National Housing Bank (NHB) has imposed a penalty of Rs 80,000 on PNB Housing Finance for not complying with loan disbursement norms in 2015. However, the company has asked the regulator to reconsider the penalty. In a letter dated June 11, NHB has advised the company to pay a penalty of Rs 80,000 plus GST for non-compliance with policy regarding disbursement of home loans in the year 2015, PNB Housing Finance said in a regulatory filing on Tuesday. The home loan disbursements were related to Pushpban and Chaitraban projects situated at a village in Pune, promoted and developed by DSK.

“The company has made a representation to NHB on June 14, 2021, to reconsider the penalty as this matter was earlier dealt with by the NHB in October 2019 and a caution advice was then issued,” PNB Housing Finance said. 

• Hindustan Copper Reports 9% Rise in MIC Output for FY26
• SAIL Shares Slip 0.91% as CMD Amarendu Prakash Steps Down
• Bosch Jumps 12% in Two Sessions on E-Mobility JV
• Latent View Analytics Shares Skyrocket 20% on Deal with Healtheon AI 
• Ola Electric Shares Jump 9% on Roadster X+ Price Cut

Shares of PNB Housing on Tuesday closed at Rs 738.05 apiece on the BSE, down 4.99 per cent from the previous close.

Stock Covered in the news

PNB Housing Finance Ltd-View Detailed Analysis