National Housing Bank vide its letter dated 11/06/2021, has imposed a penalty of INR 2,913,234 plus applicable GST @18%, on Can Fin Homes Limited. NHB had observed that the Company had accepted individual deposits aggregating to INR 1,456,617 from five small depositors for a period of less than 12 months, in contravention with provisions of Para 4 of the HFCs (NHB) Directions, 2010. The Company had replied to NHB that five deposits aggregating to INR 1,456,617 (out of about 4,000 deposits), were accepted in the year 2018-19 for a tenure of less than 12 months by three of its branches inadvertently. NHB has imposed a penalty of twice the amount of deposits collected, i.e., INR 2,913,234.