Announced Fri, 3 Jul · 19:07 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
RBI imposed a penalty of Rs 3.10 lakh on GIC Housing Finance for non-compliance with KYC directions. The violation relates to absence of periodic review of risk categorization of customer accounts, identified during NHB statutory inspection for FY ending March 2025. Penalty imposed under Section 52A of the National Housing Bank Act, 1987. The company states there is no material financial or operational impact and is implementing corrective measures.
Likely market impact
Minor penalty with no material financial impact. Compliance issue unlikely to affect stock price significantly.