Reserve Bank of India imposes Rs 2.5 crore penalty on Bajaj Finance for violation of norms

After considering the company’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI concluded that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty.

from Banking/Finance-Industry-Economic Times https://ift.tt/2LrKkqU