IANS | 16 Jan, 2019
The Reserve Bank of India has imposed a penalty of Rs 1 crore on Bajaj Finance for deficiencies in regulatory compliance.
According
to RBI, the penalty has been imposed, by an order on January 3, for
violation of 'fair Practices Code of Master Direction DNBR'.
"This
action is based on deficiencies in regulatory compliance and is not
intended to pronounce upon the validity of any transaction or agreement
entered into by the NBFC with its customers," RBI said in a statement on
Monday.