After considering the company’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI concluded that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty.source https://economictimes.indiatimes.com/industry/banking/finance/banking/reserve-bank-of-india-imposes-rs-2-5-crore-penalty-on-bajaj-finance-for-violation-of-norms/articleshow/80118425.cms
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