RBI Announces Immediate Removal of Restrictions

In a significant move, the Reserve Bank of India (RBI) has announced the immediate lifting of restrictions on Asirvad Micro Finance and DMI Finance. These sanctions, initially imposed on October 21 last year, had barred the two entities from sanctioning and disbursing loans.

Following the imposition of sanctions, both companies took corrective measures and submitted compliance reports to the central bank. The RBI expressed satisfaction with the measures taken by the companies, leading to the lifting of restrictions. This decision underscores the companies' commitment to adhering to regulatory guidelines and ensuring fairness in loan pricing.

Background and Implications

Meanwhile, similar restrictions imposed on Navi Finserv Pvt Ltd and Arohan Financial Services Limited on October 17, 2024, were lifted earlier, on December 2, 2024, and January 3, 2025, respectively. This series of actions by the RBI highlights the central bank's approach to regulatory compliance and its impact on the financial services sector.

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