RBI allows home loan disbursals sanctioned before Oct 20 Navi Finserv

New Delhi, Oct 29 (PTI) Sachin Bansal's Navi Finserv, which has been barred from giving fresh loans, on Tuesday said the Reserve Bank has allowed it to make scheduled home loan disbursals sanctioned before October 20.
    Earlier this month, the RBI had ordered Navi Finserv to cease and desist from sanctioning and disbursing loans effective from the close of business of October 21 on material supervisory concerns, including usurious pricing.
    "The Reserve Bank of India (RBI) has allowed Navi Finserv to start making scheduled home loan disbursals, sanctioned before October 20, 2024. The permission has been provided until December 31, 2024," the Bengaluru-based firm said.
    It further said the decision offers substantial relief to many homebuyers whose home loans were sanctioned before the regulatory action by the RBI and who are awaiting their already scheduled disbursals.    
    Besides Navi, the central bank had put similar restrictions on three other NBFCs -- New Delhi-based DMI Finance Private Limited, Kolkata-based Arohan Financial Services Limited, and Chennai-based Asirvad Micro Finance Limited.

(This story has not been edited by THE WEEK and is auto-generated from PTI)