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Last Updated : Jan 14, 2019 06:51 PM IST | Source: PTI

RBI slaps Rs 1-cr penalty on Bajaj Finance

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the NBFC with its customers, the RBI added.

The Reserve Bank of India (RBI) Monday said it has imposed a penalty of Rs 1 crore on Bajaj Finance Ltd, a non-banking financial company (NBFC), for violating "fair practices code".

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the NBFC with its customers, the RBI added.
First Published on Jan 14, 2019 06:46 pm
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