File Pic Bajaj Finance Ltd
File Pic Bajaj Finance Ltd

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

ANI | Updated: Jan 14, 2019 22:23 IST

Mumbai (Maharashtra) [India], Jan 14 (ANI): The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 10 million on Bajaj Finance 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 Non-Banking Financial Company (NBFC) Bajaj Finance 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. (ANI)

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