RBI bans DMI Finance, Navi Finserv among 4 NBFCs from
Oct 17, 2024 · Reserve Bank of India (RBI) has issued a cease and desist order to several NBFCs, including DMI Finance and Navi Finserv, due to supervisory concerns related to their pricing policies
RBI bans four finance companies from sanctioning and disbursing …
Oct 18, 2024 · The Reserve Bank of India (RBI) banned four finance companies, including Sachin Bansal-led Navi Finserv and Mitsubishi UFJ Financial Group-backed DMI Finance, from sanctioning and disbursing new loans as they were found to be charging excessive interest rates.
RBI takes action against 4 NBFCs for disbursal of loans
Oct 17, 2024 · The Reserve Bank of India has imposed business restrictions on four non-banking finance companies (NBFCs) – Asirvad Micro Finance Ltd, Arohan Financial Services Ltd, DMI Finance Pvt Ltd and Navi...
RBI bars NAVI, DMI Finance and others from loan sanctioning and …
Oct 17, 2024 · The Reserve Bank of India (RBI) has issued a directive to four non-banking financial companies (NBFCs), including DMI Finance—backed by MUFG Bank—and NAVI, led by Sachin Bansal, to cease loan sanctioning and disbursement starting October 21. Notably, DMI acquired the buy-now-pay-later app ZestMoney in January this year.
RBI lifts ban on NBFCs Asirvad Micro Finance and DMI Finance
1 day ago · The Reserve Bank of India lifted restrictions on Asirvad Micro Finance and DMI Finance. These restrictions had been imposed in October 2024 due to non-compliance with regulatory guidelines. After remedial measures and compliance reports were submitted by the companies, the central bank reviewed and approved the changes, allowing them to resume loan sanctioning and disbursal.
RBI removes supervisory curbs on Asirvad and DMI Finance
1 day ago · RBI removes supervisory curbs on Asirvad and DMI Finance ... Bloomberg News reported that Arohan too had delayed its $200-million initial public offering plan after RBI's restrictions.
RBI Bars 4 NBFCs, Asirvad Micro Finance, Arohan, Navi Finserv and DMI …
Oct 17, 2024 · The Reserve Bank of India (RBI) issued directions to four non-banking finance companies (NBFCs) to cease and desist from sanction and disbursal of loans, from close of business of 21 October 2024.
RBI allows Asirvad, DMI Finance to resume lending operations
1 day ago · The Reserve Bank has lifted its ban on the 'sanction and disbursal of loans' by Asirvad Micro Finance and DMI Finance Pvt Ltd, in a big relief to the two microfinance companies, according to an ...
DMI Finance, Navi Finserv, Others Barred From Giving Loans in …
Oct 17, 2024 · On top of usurious pricing, the four shadow lenders violated rules for microfinance loans relating to assessment of household income and the borrowers’ ability to honor monthly repayments, the RBI...
RBI lifts restrictions imposed on Asirvad Microfinance and DMI …
1 day ago · The Reserve Bank of India (RBI) on Wednesday lifted restrictions imposed on Chennai based Asirvad Micro Finance and Delhi based DMI Finance, with immediate effect, after being satisfied with the actions taken by these companies to adhere to regulatory guidelines. “…having satisfied itself ...