The National Housing Bank (NHB) fined Housing Development Finance Corporation Ltd (HDFC) 4.75 lakh rupees for failing to comply with certain rules, the country’s largest mortgage lender said Tuesday.
“We inform you that on July 5th, 2021 (Monday), NHB fined the company 4.75,000 rupees plus GST for technical breach of NHB circulars,” HDFC said in a regulatory document on Tuesday. The circulars were dated November 2013 and July 2016.
“The Company will take the necessary steps to comply with this letter,” he said regarding the matter that led to the imposition of the fine.
HDFC shares closed unchanged on Tuesday at Rs 2,493.30 on the BSE.