Announced Fri, 3 Jul · 19:04 IST
RBI imposes Rs 3.10 lakh penalty on GIC Housing Finance for KYC non-compliance
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GICHSGFIN · price
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Price reaction · full curve 14 horizons · vs prior close
-0.6%1-day move
₹155.37
prior close
₹154.39
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.5-0.8-0.6—-0.6-2.5-2.8-2.6-2.0-3.1-4.4———
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AI summary
GIC Housing Finance Ltd received a Rs 3.10 lakh monetary penalty from the RBI for non-compliance with KYC directions, specifically absence of periodic review of risk categorization of customer accounts. The penalty, under Section 52A of the National Housing Bank Act, 1987, stems from NHB's statutory inspection as on March 31, 2025. The company says there is no material financial or operational impact and is implementing corrective measures.
Likely market impact
Minor penalty, company says no material financial or operational impact. Negligible effect on shareholders.