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Vikram Kumar

Founder at Stockware • 5m

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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Anonymous

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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Navi Group has announced that Sachin Bansal, the founder and current CEO of both Navi Technologies Limited and Navi Finserv Limited, will step down as chief executive and transition to the role of Executive Chairman. In his place, the company has ap

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