🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

News

Pods

Back

Vikram Kumar

Founder at Stockware • 6m

Navi Finserv Ordered to Cease Loan Disbursement by RBI 🚨 In a recent development, Navi Finserv, the NBFC arm of Sachin Bansal’s Navi Technologies, has been ordered by the Reserve Bank of India to cease and desist from sanctioning and disbursing loans starting October 21. The RBI cited concerns over excessive interest rates that were not in compliance with regulatory guidelines. Navi primarily provides unsecured personal loans of up to ₹20 lakh, with interest rates ranging from 9.9% to 35%, depending on the borrower’s credit profile. This decision by the RBI also extends to entities like DMI Finance and Asirvad Micro Finance. The lending landscape is clearly facing increased scrutiny, with regulatory bodies prioritizing customer protection. #NBFC #RBI #NaviFinserv #Fintech #SachinBansal #Loans #Lending #FinancialRegulations #Finance

0 replies2 likes

Recommendations from Medial

BigLoot IN

BigLoot.in - Where S... • 6m

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.

4 replies3 likes

Anonymous

Hey I am on Medial • 7m

Hello Medial Community Is it mandatory for a fintech who is also engaged in lending activities to get the NBFC licence from RBI?

0 replies3 likes

LIKHITH

ON NE SAIT JAMAIS • 10m

DID YOU KNOW !? Kotak Mahindra Finance became India's first NBFC to be converted into a bank after being granted an RBI banking license in 2003. Like and follow for more.

27 replies15 likes

gray man

I'm just a normal gu... • 12d

BharatPe announced today that its subsidiary, Resilient Payments Private Limited, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). With this approval, the company stated that it is now

0 replies10 likes

BigLoot IN

BigLoot.in - Where S... • 6m

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

3 replies6 likes

SARASHI ASSOCIATION

Hey I am on Medial • 2m

Sarashi Association Need help for startup and grow.....My aim is to provide loans to common poor business people at very low interest rates, and much lower than normal banks and finance company like half interest loans, small medical expenses loans

1 replies4 likes

Rohan Saha

Founder - Burn Inves... • 3m

The RBI is increasingly cracking down on unsecured lending. The NPAs (Non-Performing Assets) of unsecured loans are also increasing rapidly. Companies that used to provide loans against salaries are now changing their business models. The NPAs of MSM

4 replies12 likes

Rabbul Hussian

Hey I am on Medial • 2m

The Reserve Bank of India (RBI) reduced the repo rate by 25 basis points to 6.25%, the first rate cut in nearly five years. What is the repo rate? It’s the rate at which the RBI lends money to commercial banks. A lower repo rate means cheaper loans

1 replies13 likes

Priyant Dhrangdhariya

Head of Finance @ Th... • 1y

India’s Gold Loan Market: A Glittering Opportunity The Sparkling Growth: Bajaj Finserv Ltd., a diversified NBFC, predicts India’s gold loan market—valued at $55.52 billion in 2022—will soar to $124.45 billion by 2029. A 12.22% annual growth fuels t

3 replies8 likes

aaquib mahfooz

Being innovative • 3m

i have idea of creating an online platform that connects lenders directly with borrowers is similar to peer-to-peer lending (P2P lending). P2P lending has become popular in recent years as an alternative to traditional banking and NBFC loans. To mak

24 replies5 likes