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RBI imposes monetary penalty of Rs 10 million on Bajaj Finance Ltd

ANI  |  Mumbai (Maharashtra) [India] 

The (RBI) has imposed a monetary penalty of Rs. 10 million on Limited for violation of Fair Practices Code.

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) Ltd. with its customers.

The order is dated January 3 and the penalty has been imposed in the exercise of powers vested in RBI under the relevant provisions of the RBI Act.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 14 2019. 22:40 IST