RBI takes action against 4 NBFCs, cease them from loan disbursal
According to the RBI, in addition to charging excessively high prices, these NBFCs were found to be not following regulatory guidelines on evaluating household income and factoring in current or future monthly repayment responsibilities for their microfinance loans.
RBI Bars Sachin Bansal’s Navi Finserv From Disbursing Loans
RBI has directed Navi Finserv and three other NBFCs to immediately stop sanctioning and disbursing loans due to supervisory concerns.
RBI stops 4 NBFCs, including Sachin Bansal’s Navi, from disbursing loans
The non-banks lenders include former Flipkart founder Sachin Bansal-led Navi Finserv, DMI Finance, Asirvad Micro Finance and Arohan Financial Services. The banking regulator says this action is based on material supervisory concerns observed in the Pricing Policy of these companies in terms of their Weighted Average Lending Rate (WALR) and the Interest Spread charged over their cost of funds,
RBI orders ‘cease and desist’ on 4 NBFCs for usurious pricing
RBI orders cease and desist against 4 NBFCs for usurious pricing and regulatory deviations, effective October 21.
RBI bars Asirvad MFI, Navi Finserv, two other NBFCs from loan sanction, disbursal effective from October 21
This action is based on material supervisory concerns observed in the Pricing Policy of these companies, says RBI
RBI suspends loan sanction, disbursal of 4 NBFCs over compliance issues
The RBI has barred four NBFCs, including Navi Finserv and Asirvad MFI, from issuing loans due to excessive lending rates, non-compliance with income assessment norms, and other regulatory breaches.
RBI bars Navi Finserv, DMI Finance and 2 other NBFCs from loan sanction, disbursal
The Reserve Bank of India (RBI) on Thursday took action against four NBFCs -- Asirvad Micro Finance Ltd, Arohan Financial Services Ltd, DMI Finance and Navi Finserv -- citing material
RBI bars Sachin Bansal’s Navi Finserv, 3 others from sanction of loans
Besides Navi Finserv, others who have been barred by the RBI include Asirvad Micro Finance, Arohan Financial Services and DMI Finance Private.
'Cease and desist...' - RBI's action against 4 NBFCs including Flipkart’s Sachin Bansal-led entity; reason?
Reserve Bank of India on Thursday issued directions to Asirvad Micro Finance Limited, Arohan Financial Services Limited, DMI Finance Private Limited and Bansal-led Navi Finserv Limited. The RBI has asked the non-banking finance companies to “cease and desist from sanction and disbursal of loans” with effect from next week.
RBI bans Flipkart founder Sachin Bansal’s Navi, here’s what the bank’s statement reads
The Reserve Bank of India has banned four NBFCs from issuing new loans starting October 21, 2024, citing excessive lending rates and non-compliance with regulations.
RBI bars Sachin Bansal's Navi Finserv, three other NBFCs from lending over pricing violations
The RBI has barred Navi Finserv, DMI, Asirvad, and Arohan from issuing new loans, citing excessive interest rates and ...
‘Excessive pricing’: RBI bars 4 NBFCs from giving loans
This action is based on material supervisory concerns observed in the pricing policy of these companies in terms of their ...
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