Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹50,000 on Habitat Micro Build India Housing Finance Company Private Ltd., Karnataka, by an order dated March 26, 2025. RBI said the company breached provisions of the Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021 by failing to obtain prior written permission before effecting a change in management that resulted in a change of more than 30% of its directors, excluding independent directors. The penalty was imposed after a statutory inspection by the National Housing Bank, issuance of a show-cause notice, and consideration of the company’s reply and oral submissions. RBI noted that the action is based on regulatory compliance deficiencies and is without prejudice to any other action that may be initiated.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- NBFC
- Location