Nido Home Finance Limited

RBI imposed a ₹5 lakh penalty on Nido Home Finance Limited for non-compliance with co-lending directions. The company failed to properly disclose co-lending arrangements and obtain explicit upfront customer consent.

Nido Home Finance Limited must absorb the penalty and address the compliance gaps identified in its co-lending practices. Going forward, it needs to ensure borrower agreements clearly set out the co-lending structure, disclose all arrangement details upfront, and obtain explicit customer consent; the release does not indicate any broader operational restriction on the company.

• section 52A of the National Housing Bank Act, 1987

RBI imposed a monetary penalty of Rs 1.55 lakh on Nido Home Finance Limited, Mumbai. The action was taken for non-compliance with NBFC-HFC directions relating to prior RBI approval for shareholding changes.

The company must pay the monetary penalty, but the release does not impose any ongoing business restriction or suspension. The order is a compliance enforcement action and does not, by itself, invalidate customer transactions or agreements.

• clause (b) of sub-section (1) of Section 52A read with clause (aa) of sub-section (3) of Section 49 of the National Housing Bank Act, 1987
• Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021