RBI Removes Restrictions on Ashirvad Micro Finance Limited (AMFL) and DMI Finance Private Limited (DFPL).

Banking & Finance

On January 8, 2025, the Reserve Bank of India (RBI) lifted the business restrictions on Ashirvad Micro Finance Limited (AMFL) based in Chennai (Tamil Nadu) and DMI Finance Private Limited (DFPL) based in New Delhi (Delhi). This was done after the companies took corrective actions and promised to follow fair loan pricing and regulatory rules.


      - The RBI had previously ordered these two Non-Banking Financial Companies (NBFCs) to stop approving and disbursing loans from October 21, 2024.

     

     

Main Point :-   The RBI had found that AMFL and DFPL were charging high-interest rates and not following regulatory rules, especially concerning the Weighted Average Lending Rates (WALR) and interest spreads.

     


About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai
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