RBI bars Sachin Bansal's Navi Finserv, 3 other NBFCs

RBI orders four NBFCs, including Asirvad Micro Finance, Arohan Financial Services, DMI Finance, and Navi Finserv, to cease loan disbursals due to regulatory violations related to excessive pricing and improper borrower assessment. The restrictions, effective Oct 21, will be reviewed once corrective measures are taken.

Oct 18, 2024 - 07:00

RBI bars Sachin Bansal's Navi Finserv, 3 other NBFCs

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RBI orders four NBFCs, including Asirvad Micro Finance, Arohan Financial Services, DMI Finance, and Navi Finserv, to cease loan disbursals due to regulatory violations related to excessive pricing and improper borrower assessment. The restrictions, effective Oct 21, will be reviewed once corrective measures are taken.