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Vikram Kumar

Stealth • 4d

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

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BigLoot IN

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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.

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Anonymous

Anonymous

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

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LIKHITH

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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.

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Rohan Saha

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What do you all think, will the Fed and RBI cut interest rates in this calendar year?

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In the poll I conducted yesterday, 51% of people were saying no, but the Fed has cut rates now. Only the RBI is left; let's see what happens.

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