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RBI TAKES ACTION AGAINST 4 NBFCs OVER EXCESSIVE INTEREST RATES
The Business Guardian
|October 18, 2024
These business restrictions aim to address several supervisory concerns observed during inspections and data analysis.
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The Reserve Bank of India (RBI) has directed four non-banking financial companies (NBFCs), including two microfinance institutions (MFIs), to halt the sanction and disbursal of new loans starting on concerns over their excessive interest rates and non-compliance with established financial regulations.
According to RBI, Asirvad Micro Finance Limited (Chennai), Arohan Financial Services Limited (Kolkata), DMI Finance Private Limited (New Delhi), and Navi Finserv Limited (Bengaluru) were directed to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024.
These business restrictions aim to address several supervisory concerns observed during inspections and data analysis.
Bu hikaye The Business Guardian dergisinin October 18, 2024 baskısından alınmıştır.
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