RBI Imposes Rs 2.5 Crore Penalty On L&T Finance For Non Compliance

Current Affairs, Economy

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  • The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.50 crore (Rupees Two Crore Fifty Lakh only) on L&T Finance Limited.
  • This action was taken as a result of non-compliance with specified provisions of the Non-Banking Financial Company – Systemically Important Non-Deposit Taking Company and Deposit Taking Company (Reserve Bank) Directions, 2016.
  • The RBI imposed the fine in accordance with the relevant clauses of the Reserve Bank of India Act, of 1934.

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