Case Brief
The Reserve Bank of India issued directions under Section 45L(1)(b) of the RBI Act, 1934 to select NBFCs, including NBFCs-MFIs, requiring them to cease and desist from sanction and disbursal of loans. The action is effective from close of business on October 21, 2024. The release does not name the entities in the provided text, only indicates that the directions apply to the following NBFCs.
Action Snapshot
- Primary Impact
- Cease and desist
- Entity Type
- NBFC
- Action Type
- Cease and desist
- Order Date