RBI · Enforcement
RBI fines GIC Housing Finance ₹3.10 lakh for KYC lapses
Penalty for failing to review risk categorisation of accounts every six months.
What changed
- RBI imposed a monetary penalty of ₹3.10 lakh on GIC Housing Finance.
- Penalty for non-compliance with KYC directions on periodic risk categorisation review.
The read
RBI fined GIC Housing Finance ₹3.10 lakh for failing to review the risk categorisation of accounts at least once every six months, as required under KYC norms. The penalty, based on an NHB inspection as of March 31, 2025, targets operational compliance in housing finance. The action is procedural, not a judgment on customer transactions.
Key numbers
- Penalty: ₹3.10 lakh
- Order date: June 24, 2026
- Inspection reference: March 31, 2025
Primary source: rbi.org.in