RBI Lifts Restrictions on Asirvad Micro Finance and DMI Finance

The Reserve Bank of India has removed restrictions on Asirvad Micro Finance and DMI Finance following satisfactory compliance with RBI guidelines. The initial restrictions were imposed in October 2024, and their lifting signifies the companies' adherence to regulatory standards and improved internal processes.

The Reserve Bank of India (RBI) lifted restrictions on Asirvad Micro Finance and DMI Finance, effective immediately, which had originally been imposed in October 2024. These restrictions had halted the sanctioning and disbursal of loans by these entities.

In response, both companies undertook remedial actions and provided various compliance submissions to the RBI. Satisfied with these measures and submissions, the RBI removed the restrictions.

The decision follows significant improvements in the companies' processes and commitment to regulatory guidelines. Additionally, similar restrictions on Navi Finserv Pvt Ltd and Arohan Financial Services Limited, imposed in October 2024, were lifted in December 2024 and January 2025, respectively. (ANI)

(With inputs from agencies.)