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S.No.
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ENTITY |
PERSONS |
REGULATORY CHARGES
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REGULATORY ACTION(S) / DATE OF ORDER
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FURTHER DEVELOPMENTS
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1
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AROHAN FINANCIAL SERVICES PVT.LTD.
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EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON ASSESSMENT OF HOUSEHOLD INCOME AND CONSIDERATION OF EXISTING/ PROPOSED MONTHLY REPAYMENT OBLIGATIONS
OBSERVED DEVIATION IN RESPECT OF EVERGREENING OF LOANS, CONDUCT OF GOLD LOAN PORTFOLIO, MANDATED DISCLOSURE REQUIREMENTS ON INTEREST RATES AND FEES, OUTSOURCING OF CORE FINANCIAL SERVICES ETC.
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CEASED AND DESIST FROM SANCTIONING OR DISBURSING GOLD LOANS OR ASSIGNING/SECURITISING/SELLING ANY OF GOLD LOAN FROM 17-OCT-2024
17-OCT-2024
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RBI VIDE ITS ORDER DATED 03/01/2025 HAD LIFTED SUPERVISORY RESTRICTIONS IMPOSED VIDE ITS ORDER DATED 17/10/2024
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2
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ASIRVAD MICRO FINANCE PVT.LTD.
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EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON ASSESSMENT OF HOUSEHOLD INCOME AND CONSIDERATION OF EXISTING/ PROPOSED MONTHLY REPAYMENT OBLIGATIONS
OBSERVED DEVIATION IN RESPECT OF EVERGREENING OF LOANS, CONDUCT OF GOLD LOAN PORTFOLIO, MANDATED DISCLOSURE REQUIREMENTS ON INTEREST RATES AND FEES, OUTSOURCING OF CORE FINANCIAL SERVICES ETC.
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CEASED AND DESIST FROM SANCTIONING OR DISBURSING GOLD LOANS OR ASSIGNING/SECURITISING/SELLING ANY OF GOLD LOAN FROM 17-OCT-2024
17-OCT-2024
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RBI VIDE ITS ORDER DATED 08/01/2025 HAD LIFTED SUPERVISORY RESTRICTIONS IMPOSED VIDE ITS ORDER DATED 17/10/2024
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3
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DMI FINANCE PVT.LTD.
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EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON ASSESSMENT OF HOUSEHOLD INCOME AND CONSIDERATION OF EXISTING/ PROPOSED MONTHLY REPAYMENT OBLIGATIONS
OBSERVED DEVIATION IN RESPECT OF EVERGREENING OF LOANS, CONDUCT OF GOLD LOAN PORTFOLIO, MANDATED DISCLOSURE REQUIREMENTS ON INTEREST RATES AND FEES, OUTSOURCING OF CORE FINANCIAL SERVICES ETC.
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CEASED AND DESIST FROM SANCTIONING OR DISBURSING GOLD LOANS OR ASSIGNING/SECURITISING/SELLING ANY OF GOLD LOAN FROM 17-OCT-2024
17-OCT-2024
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RBI VIDE ITS ORDER DATED 08/01/2025 HAD LIFTED SUPERVISORY RESTRICTIONS IMPOSED VIDE ITS ORDER DATED 17/10/2024
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4
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IIFL FINANCE LTD.
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DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS
OBSERVED CERTAIN MATERIAL SUPERVISORY CONCERNS IN THE GOLD LOAN PORTFOLIO, DID NOT ADHERE TO STANDARD AUCTION PROCESS AND LACK OF TRANSPARENCY IN CHARGES BEING LEVIED TO CUSTOMER ACCOUNTS
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CEASED AND DESIST FROM SANCTIONING OR DISBURSING GOLD LOANS OR ASSIGNING/SECURITISING/SELLING ANY OF GOLD LOAN FROM 04-MAR-2024
04-MAR-2024
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5
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NAVI FINSERV LTD.
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EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
EXCEEDED WEIGHTED AVERAGE LENDING RATE (WALR) AND INTEREST SPREAD CHARGED OVER THEIR COST OF FUNDS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON ASSESSMENT OF HOUSEHOLD INCOME AND CONSIDERATION OF EXISTING/ PROPOSED MONTHLY REPAYMENT OBLIGATIONS
OBSERVED DEVIATION IN RESPECT OF EVERGREENING OF LOANS, CONDUCT OF GOLD LOAN PORTFOLIO, MANDATED DISCLOSURE REQUIREMENTS ON INTEREST RATES AND FEES, OUTSOURCING OF CORE FINANCIAL SERVICES ETC.
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CEASED AND DESIST FROM SANCTIONING OR DISBURSING GOLD LOANS OR ASSIGNING/SECURITISING/SELLING ANY OF GOLD LOAN FROM 17-OCT-2024
17-OCT-2024
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RBI VIDE ITS ORDER DATED 02/12/2024 LIFTED THE RESTRICTIONS IMPOSED ON VIDE ITS ORDER DATED 17/10/2024 WITH IMMEDIATE EFFECT
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The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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