The National Housing Bank (NHB) has imposed a fine of Rs 4.75 lakh on Housing Development Finance Corporation Ltd (HDFC) for non-compliance of some norms, the country's largest mortgage lender said on Tuesday. "This is to inform you that NHB has on July 5, 2021, (Monday) imposed a monetary penalty of Rs 4,75,000 plus GST on the Corporation for technical non-compliance with NHB circulars," HDFC said in a regulatory filing on Tuesday.
The circulars belonged to November 2013 and July 2016. "The Corporation will be taking necessary steps to comply with the said letter," it said in reference to the matter leading to the imposition of fine.
HDFC's shares on Tuesday closed flat at Rs 2,493.30 apiece on the BSE.