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of <h1>Section 52A: National Housing Bank and RBI Can Fine Housing Finance Firms for Violations, Up to 5 Lakh Rupees</h1> Section 52A of the National Housing Bank Act, 1987, as amended by the Finance (No. 2) Act, 2019, empowers the National Housing Bank and the Reserve Bank to impose fines on housing finance institutions that are companies for contraventions or defaults. Penalties range from five thousand rupees to five lakh rupees or twice the amount involved, with additional daily penalties for ongoing violations. The institutions must be notified and given a chance to respond before penalties are imposed. Penalties must be paid within thirty days, and enforcement can be sought through the principal civil court. No legal complaints can be filed once a penalty is imposed.
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