RBI lifts restrictions on Asirvad Micro Finance, DMI Finance
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Advertisement
Mumbai (Maharashtra) [India], January 8 (ANI): The Reserve Bank of India (RBI) has decided to lift restrictions placed on Asirvad Micro Finance and DMI Finance, with immediate effect, which was initially imposed in October 2024.
On October 21, 2024, RBI imposed restrictions on the sanction and disbursal of loans on these two entities.
Advertisement
In the times that followed, the two companies initiated remedial action and submitted their various compliances to the RBI.
RBI was satisfied with the remedial actions and with the companies' submissions.
In view of the "adoption of revamped processes, systems, and the companies' commitment" to ensure adherence to the Regulatory Guidelines, RBI lifted the restrictions.
Advertisement
Separately, certain restrictions that were imposed on two other NBFCs on October 17, 2024 -- Navi Finserv Pvt Ltd and Arohan Financial Services Limited -- had been lifted dated December 2, 2024 and January 3, 2025, respectively. (ANI)
(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)
Advertisement
Advertisement