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Brief
On October 17, 2024, the Reserve Bank of India issued Directions to Navi Finserv Limited, Bengaluru, to cease and desist from sanctioning and disbursing loans. Subsequently, RBI had several rounds of interaction with the company for rectification of deficiencies. The restrictions were lifted after the company adopted revamped processes, systems, and committed to ensuring adherence to Regulatory Guidelines on an ongoing basis, especially in loan pricing fairness.
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