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Vikram Kumar

Stealth • 3m

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

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BigLoot IN

Stealth • 3m

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

Stealth • 4m

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

Stealth • 7m

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

BigLoot IN

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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

Stealth • 12d

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

Rohan Saha

Stealth • 4m

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

yes

koyi ek hi karenge

Votes: 17

3 replies1 like

Priyant Dhrangdhariya

Stealth • 10m

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

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Amil Naushad

Stealth • 10m

Discuss: Pros and Cons of P2P Lending in India. Would you try it if it was not strictly regulated by the RBI?

9 replies9 likes

aaquib mahfooz

Stealth • 1m

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

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Atharva Deshmukh

Stealth • 7m

Have studied about Monetary Policy in short and it's effect. The monetary policy is a tool through which the Reserve Bank of India (RBI) controls the money supply by controlling the interest rates. RBI is India’s central bank. While setting the int

1 replies8 likes