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A large number of co-op banks and urban cooperative banks have faulted on the RBI norms and thus were slapped with monetary penalties by the r

The penalties imposed on these eight banks ranged from Rs 1 lakh to Rs 40 lakh. Furthermore, the RBI imposed a monetary penalty on Spandana Sphoorty Financial, an NBFC.

Get latest articles and stories on Latest News at LatestLY. Domestic rating agency Icra Ratings on Wednesday revised the growth estimate for Housing Finance Companies (HFCs) to 10-12 per cent for FY23 from an earlier projection of 9-11 per cent. Latest News | Housing Finance Companies Likely to Grow at 10-12 Pc in FY23: Report.

Get latest articles and stories on Latest News at LatestLY. Non-banking financial companies (NBFCs) and housing finance firms witnessed an improvement in their asset quality in the fourth quarter of FY22, helped by minimal impact of Omicron variant of COVID-19 and lower slippages from restructured book, a report said on Monday. Latest News | NBFCs, HFCs See Improvement in Asset Quality in Q4 FY22: Report.

The Reserve Bank of India has imposed a monetary penalty of ₹49.00 lakh on Bassein Catholic Co-operative Bank, Vasai. The UCB was faulted for non-compliance with the directions issued by RBI on ‘Income