Case Brief
RBI had previously directed Navi Finserv Limited, Bengaluru, to cease and desist from sanctioning and disbursing loans. In the present release, the Reserve Bank says it is satisfied with the company’s submissions, its revamped processes and systems, and its commitment to comply with regulatory guidelines on an ongoing basis, particularly on fairness in loan pricing. As a result, RBI has removed the supervisory restrictions with immediate effect.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- NBFC
- Location
- Bengaluru
- Order Date