RBI has banned four NBFCs from issuing loans, including DMI Finance, Navi Finserv, Asirvad Finance, and Arohan Financial. The ban will take effect from October 21, 2024.
Anonymous 1
Stealth • 1m
It’s good that RBI is taking action to protect consumers, this security free loan thing is getting too out of hand
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Rohan Saha
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why the RBI isn't taking any action against P2P platforms for accepting lenders' money on their own balance sheets. According to RBI guidelines, P2P platforms cannot accept money on their own balance sheet or provide rapid liquidity to any lender, ye
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Navi has built a personal loan book size exceeding ₹10,439 crore and has an Asset Under Management (AUM) of ₹11,725 crore. The company charges interest rates as high as 45% on loans. For home loans, it's reported that they require full access to pers
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Rohan Saha
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We reached out to many P2P platforms from January to July this year regarding their incorrect business models where they were not following P2P lending rules. They kept telling us that they were not doing anything wrong and were operating according t