Reserve Bank of India lifts restrictions on Asirvad Micro Finance, DMI Finance

It issued a cease and desist order from loan sanctioning in October 2024.

The Reserve Bank of India (RBI) has lifted restrictions on Asirvad Micro Finance Limited and DMI Finance Private Limited, effective immediately.

On 17 October 2024, the RBI issued an order directing both companies to cease and desist from loan sanctioning and disbursal activities, a directive that took effect on 21 October.

Following the restrictions, the companies undertook remedial measures and submitted compliance reports to the RBI. These measures included revamping their processes and systems and strictly adhering to regulatory guidelines, particularly ensuring fairness in loan pricing practices.

In addition to these companies, the RBI had earlier lifted similar restrictions on two other non-bank financial companies—Navi Finserv Pvt Ltd on 2 December 2024 and Arohan Financial Services Limited on 3 January 2025.

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Reserve Bank of India

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