Key Quantitative Figures
The Reserve Bank of India imposed a monetary penalty of ₹3,10,000 (Rupees Three Lakhs Ten Thousand only) on the company.
Dates of Action
- Event date and time of occurrence: July 03, 2026 at 05:21 PM
- Date of receipt of communication: Order received via email dated July 03, 2026
- Period of violation: Statutory inspection conducted by National Housing Bank (NHB) with reference to the company's position as on March 31, 2025
Parties Involved
- Regulatory Authority: Reserve Bank of India (RBI)
- Inspection Authority: National Housing Bank (NHB)
- Listed Entity: GIC Housing Finance Limited
Nature of Non-Compliance
Absence of periodic review and risk categorization of customer accounts as required under RBI's KYC directions.
Financial Impact Assessment
The company explicitly states: "There is no material impact on financial, operation or other activities of the Company due to the penalty payable."
Company Response and Actions
The company is in the process of implementing corrective measures to ensure compliance with the applicable RBI Directions.
Additional Information
The disclosure was also uploaded on the company website www.gichfindia.com.
#Tags: #GICHousingFinance #RBIPenalty #SEBIDisclosure #RegulatoryCompliance #KYC #Negative