RBI bars Navi Finserv, 3 other NBFCs
RBI bars Navi Finserv, 3 other NBFCs from extending loans
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers.
RBI ban on Navi, three more NBFCs leaves fintechs worried
RBI on Thursday barred Bengaluru headquartered-Navi Finserv and three more NBFCs to stop disbursing loans from October 21
RBI bars Sachin Bansal’s Navi Finserv, three other NBFCs from lending over pricing violations
The RBI has barred Navi, DMI, Asirvad, and Arohan from issuing new loans, citing excessive interest rates and non-compliance with regulatory norms.
RBI Stops Loan Disbursement by Four NBFCs Including Navi Finserv Over Regulatory Breaches
The RBI halted the lending operations of these companies as it flagged serious supervisory concerns about their pricing Policies, particularly excessive interest spreads and violations of the Weighted Average Lending Rate (WALR) rules.
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 bars Navi Finserv, 3 other NBFCs from sanctioning and disbursing loans
During his monetary policy statement on October 8, RBI Governor Shaktikanta Das warned NBFCs, including MFIs, against chasing excessive returns on their equity. He said concerns arise when the interest rates charged become usurious and are combined with unreasonably high processing fees and frivolous penalties.
India’s central bank orders Sachin Bansal’s Navi to halt loans
India’s central bank ordered four non-bank lenders, including Navi Finserv and DMI Finance, to halt loans from October 21, citing excessive interest rates and regulatory breaches. The Reserve Bank of India said (PDF) the firms violated rules on pricing,
Sachin Bansal's Troubles Mount as RBI Bars Navi Finserv from Issuing New Loans
Previously known as BAC Acquisitions, Navi Finserv said that it was committed to conducting its business operations with the highest standards of compliance, customer service and transparency, and that it was reviewing RBI’s directions and would address its concerns promptly.
RBI bars Navi Finserv, 3 other NBFCs from disbursal of loans
The Reserve Bank on Thursday ordered Sachin Bansal's Navi Finserv and three other NBFCs to cease and desist from sanction and disbursal of loans effective from the close of business of October 21, on material supervisory concerns,
abp LIVE19h
RBI Orders 4 NBFCs, Including Navi Finserv, To Halt Loan Disbursals Over Supervisory Concerns
The companies flagged include Bengaluru-based Navi Finserv, New Delhi-based DMI Finance, Kolkata-based Arohan Financial ...
After barring Navi and others, RBI may act against more NBFCs to check obscure lending practices: Morgan Stanley
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday (Oct. 17) took action against four Non-Banking Financial Companies ...
devdiscourse1d
RBI's Watchful Guard: A Closer Look at Financial Vigilance
RBI Governor Shaktikanta Das emphasized that the Reserve Bank acts not as an enforcer but as a vigilant overseer of India's ...
India Today on MSN1d
RBI takes action against Navi Finserv, 3 other NBFCs: What it means for customers
RBI's regulatory action comes in response to concerns over their loan pricing policies and other regulatory violations, ...