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Navi Finserv has been permitted by the Reserve Bank of India (RBI) to disburse home loans sanctioned before October 20. Earlier this month, the RBI had ordered Navi Finserv to stop approving and disbursing loans from business close on October 21 due to significant supervisory concerns, including excessive pricing.
New Delhi. Sachin Bansal's company Navi Finserv has been given permission by the Reserve Bank of India (RBI) to distribute home loans sanctioned before October 20. Earlier this month, the RBI had ordered Navi Finserv to stop approving and disbursing loans from business close on October 21 due to significant supervisory concerns, including excessive pricing. “The Reserve Bank of India (RBI) has permitted Navi Finserv to disburse scheduled home loans sanctioned before October 20, 2024,” the Bengaluru-based company said in a statement on Tuesday. Permission has been given till December 31, 2024.
It said the decision provides relief to many home buyers whose home loans were approved before the regulatory action by the RBI and who are waiting for the already scheduled loan disbursement. Apart from Navi Finserv, the central bank had also imposed similar restrictions on three other non-banking financial companies (NBFCs) New Delhi-based DMI Finance Pvt Ltd, Kolkata-based Aarohan Financial Services Ltd and Chennai-based Ashirwad Micro Finance Ltd.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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