RBI imposes penalty on Bajaj Finance, bears the heat on falling share prices

RBI has issued a penalty on Bajaj Finance for the breach of risk management and outsourcing norms which has led to the fall in its share prices. The penalty has been imposed for Rs.2.50 crore under the the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58B of the RBI Act 1934. Bajaj Finance share fall Rs.41.30 BSE index & are currently trading 5.49% below its 52 week high on intraday.