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RBI slaps Rs 1-cr penalty on Bajaj Finance

Press Trust of India  |  Mumbai 

The (RBI) Monday said it has imposed a penalty of Rs 1 crore on Ltd, a company (NBFC), for violating "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 with its customers, the RBI added.

is into businesses such as consumer finance, SME and commercial lending.

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

First Published: Mon, January 14 2019. 18:45 IST
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