The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 lakh on Housing Development Finance Corporation (HDFC) for non-compliance with certain provisions issued by the National Housing Bank (NHB). A statutory inspection of the company was conducted by NHB with reference to its financial position as on March 31, 2020.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
