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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.
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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
