+
ICICI Home Finance Faces Penalty of Rs.25,000
ECONOMY & POLICY

ICICI Home Finance Faces Penalty of Rs.25,000

ICICI Home Finance, one of the prominent housing finance institutions, has been directed to pay a penalty of ?25,000 following allegations of failing to process a loan application for three years.

This regulatory action comes as a response to customer complaints regarding prolonged delays and neglect in the loan processing system.

The penalty reflects a growing emphasis on financial institutions to streamline and expedite their services, ensuring a more efficient and customer-friendly experience.

The repercussions of this fine may prompt other players in the housing finance sector to reevaluate their processes and uphold timely and transparent practices.

The regulatory intervention underscores the importance of adherence to service standards within the financial industry and aims to protect the interests of loan applicants.

As the housing finance landscape evolves, such incidents draw attention to the need for stringent oversight and accountability to maintain trust and integrity in the financial services sector.

ICICI Home Finance, one of the prominent housing finance institutions, has been directed to pay a penalty of ?25,000 following allegations of failing to process a loan application for three years. This regulatory action comes as a response to customer complaints regarding prolonged delays and neglect in the loan processing system.The penalty reflects a growing emphasis on financial institutions to streamline and expedite their services, ensuring a more efficient and customer-friendly experience. The repercussions of this fine may prompt other players in the housing finance sector to reevaluate their processes and uphold timely and transparent practices. The regulatory intervention underscores the importance of adherence to service standards within the financial industry and aims to protect the interests of loan applicants. As the housing finance landscape evolves, such incidents draw attention to the need for stringent oversight and accountability to maintain trust and integrity in the financial services sector.

Next Story
Infrastructure Urban

Jupiter Opens First EV Showroom in Hyderabad

Jupiter Electric Mobility Pvt Ltd (JEM), the electric commercial vehicle arm of Jupiter Wagons Ltd, has inaugurated its first showroom in New Bowenpally, Secunderabad, Hyderabad. The launch also marks the introduction of its 1.05-tonne four-wheeler electric light commercial vehicle (eLCV), JEM TEZ, to Telangana’s growing logistics and intra-city freight market. This expansion underscores JEM’s commitment to delivering purpose-built sustainable mobility solutions and accelerating the electrification of India’s logistics sector.The new showroom, operated by Arven Motors Pvt Ltd, offers cus..

Next Story
Infrastructure Energy

Premier Energies Launches 620W DCR Solar Modules in India

Premier Energies Limited, one of India’s largest integrated solar manufacturers, has launched its next-generation 620W DCR solar modules using G12R TOPCon technology, now among the most powerful large-format panels available in the country.The new modules, built with Tunnel Oxide Passivated Contact (TOPCon) architecture, deliver superior power density, improved temperature coefficients, and enhanced low-light performance. The rectangular G12R N-type cell design enables higher string power and balance-of-system optimisation, making the panels suitable for utility-scale projects as well as com..

Next Story
Infrastructure Energy

ONGC Starts Gas Sales from Rajasthan Chinnewala Tibba Block

Oil and Natural Gas Corporation Limited (ONGC) has commenced natural gas sales from the Discovered Small Field (DSF-II) Block RJ/ONDSF/Chinnewala/2018, marking the successful monetisation of the Chinnewala Tibba field in the Rajasthan Kutch Onland Exploratory Asset (RKOEA). Gas sales officially began on 25 August 2025.This development highlights ONGC’s commitment to boosting domestic energy production and strengthening India’s energy security under the guidance of the Ministry of Petroleum and Natural Gas. Located in western Rajasthan, close to the Indo-Pakistan border, the Chinnewala Tibb..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?