The apex bank, on October 17, had prohibited Navi Finserv, Asirvad Micro Finance, Arohan Financial Services, and DMI Finance from sanctioning and disbursal loans.
The restrictions were 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, which are found to be excessive and not in adherence with the regulations.
RBI has decided to lift restrictions after several rounds of interaction with the company for rectification of deficiencies.
This story is from the December 03, 2024 edition of Financial Express Mumbai.
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This story is from the December 03, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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