MUMBAI: The Reserve Bank on Tuesday said it has imposed a penalty of Rs 50 lakh on state-run Central Bank of India for non-compliance with its directions on disbursal of some housing loans.
“Reserve Bank of India (RBI) has, by an order dated November 10, 2020, imposed a monetary penalty of Rs 50 lakh” on the bank for non-compliance with certain provisions contained in the circular on ‘Housing Sector- Innovative Housing Loan Products – Upfront disbursal of housing loans’ dated September 3, 2013, it said in a statement.
Giving details, it said an off-site examination of the records pertaining to some housing loans disbursed by the bank was conducted by RBI. (AGENCIES)
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