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Vikram Kumar
Founder at Stockwareย โขย 1y
Navi Finserv Ordered to Cease Loan Disbursement by RBI ๐จ In a recent development, Navi Finserv, the NBFC arm of Sachin Bansalโs 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 โน20 lakh, with interest rates ranging from 9.9% to 35%, depending on the borrowerโs 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
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