PNB Housing Finance slapped with penalty for not following disbursement norms

New Delhi: National Housing Bank has penalized PNB Housing Finance to the tune of Rs 80,000 for not following loan disbursement norms in 2015. The disbursements of home loan were in relation to Pushpban and Chaitraban real estate projects lying in avillage in Pune. The projects are promoted by DSK.

The National Housing Bank has told the mortgage financier to pay a penalty of Rs 80,000 plus the applicable, PNB Housing Finance said in a regulatory filing to the stock exchanges.

However, PNB Housing Finance has requested the regulator to reconsider the fine of Rs 80,000.

"The company has made a representation to NHB on June 14, 2021, to reconsider the penalty as this matter was earlier dealt with by the NHB in October 2019 and a caution advice was then issued," PNB Housing Finance said.