As per the Provisions of the Paragraph 29 (6) of Housing Finance Companies (NHB) Directions, 2010 & NHB Policy Circular No. 93. The Details of the penalty imposed by National Housing Bank for non adherence to the format prescribed in the NHB Policy Circular No. 35 (ALM System for HFC's Guidelines) and Policy Circular No. 61 (Reserve Fund u/s 29 C of NHB Act, 1987). The Bank imposes a penalty of Rs. 10,000/- (Rupees Ten Thousand only) for the contraventions mentioned above along with GST @ 18% on the penalty imposed by the NHB i.e Rs. 1,800/- total amounting to Rs. 11,800/-.
