Reserve Bank cancels Certificate of Registration (CoR) of Zavron Finance Private Limited due to irregular lending practices

News Financial services Sanctions & Fines

Date: 2nd Dec, 2024 Source: Reserve Bank of India Country: India Original Source

Brief

On December 02, 2024, the Reserve Bank of India issued an update regarding Reserve Bank cancels Certificate of Registration (CoR) of Zavron Finance Private Limited due to irregular lending practices. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934, citing violations of guidelines on code of conduct in outsourcing, fair practices code, and lack of due diligence in lending service providers.

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Reserve Bank cancels Certificate of Registration (CoR) of Zavron Finance Private Limited due to irregular lending practices

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Reserve Bank cancels Certificate of Registration (CoR) of Zavron Finance Private Limited due to irregular lending practices

Brief

Reserve Bank of India

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