Case Brief
The Reserve Bank of India has withdrawn the supervisory restriction previously placed on Arohan Financial Services Limited, Kolkata. On October 17, 2024, RBI had directed the company under Section 45L(1)(b) to cease and desist from sanction and disbursal of loans, effective from close of business on October 21, 2024. After receiving the company’s remedial submissions and noting its revamped processes, systems, and commitment to comply with regulatory guidelines on an ongoing basis, especially around fairness in loan pricing, RBI decided to lift the restriction immediately.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- NBFC
- Location
- Kolkata, West Bengal
- Order Date