LIC Housing Finance

Rs 5 lakh Penalty on LIC Housing Finance Imposed by RBI

"This penalty has been imposed in exercise of powers vested in the RBI under the provisions of clause (b) of sub-section (1) of section 52A read with clause (aa) of sub-section (3) of section 49 of the National Housing Bank Act, 1987 (NHB Act)," a statement issued by the RBI said.