Stock exchanges NSE and BSE imposed a penalty of ₹5,42,800 on state-owned debt-ridden telecom operator Mahanagar Telephone Nigam Limited (MTNL). The fine has been imposed for not complying with the SEBI norms related to the composition of the board. "The matter for appointment…has already been taken up with the Government. Requesting NSE and BSE for waiver of fines," MTNL said.