RBI bars 4 NBFCs from issuing loans due to excessive, non-compliant pricing policies.

The Reserve Bank of India (RBI) has barred four non-banking financial companies—Navi Finserv, Asirvad Micro Finance, Arohan Financial Services, and DMI Finance—from issuing loans starting October 21 due to excessive and non-compliant pricing policies. The RBI identified issues with their weighted average lending rates and interest spreads. The restrictions will remain until these companies address the concerns and confirm remedial actions.

October 17, 2024
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