RBI Lifts Restrictions on Asirvad Micro Finance and DMI Finance
The Reserve Bank of India has removed restrictions on Asirvad Micro Finance and DMI Finance following satisfactory compliance with RBI guidelines. The initial restrictions were imposed in October 2024, and their lifting signifies the companies' adherence to regulatory standards and improved internal processes.
- Country:
- India
The Reserve Bank of India (RBI) lifted restrictions on Asirvad Micro Finance and DMI Finance, effective immediately, which had originally been imposed in October 2024. These restrictions had halted the sanctioning and disbursal of loans by these entities.
In response, both companies undertook remedial actions and provided various compliance submissions to the RBI. Satisfied with these measures and submissions, the RBI removed the restrictions.
The decision follows significant improvements in the companies' processes and commitment to regulatory guidelines. Additionally, similar restrictions on Navi Finserv Pvt Ltd and Arohan Financial Services Limited, imposed in October 2024, were lifted in December 2024 and January 2025, respectively. (ANI)
(With inputs from agencies.)
ALSO READ
Medical aid to farmer leader Jagjit Singh Dallewal: SC directs Punjab govt to file compliance report by Saturday.
SC notice to Punjab govt on contempt plea against chief secy for non-compliance with order on medical aid to farm leader Dallewal.
SC defers hearing till Jan 2 on compliance of its order by Punjab govt on shifting of farmer leader Jagjit Singh Dallewal to hospital.
Punjab government seeks three days more time from SC for compliance of its directive to shift farmer leader Jagjit Singh Dallewal to hospital.
Supreme Court Grants Punjab Government Time for Compliance on Farmer Leader's Medical Aid
Google News