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India’s central bank orders Sachin Bansal’s Navi to halt loans
India's central bank ordered four non-bank lenders, including Navi Finserv and DMI Finance, to halt loans from October 21, citing excessive interest rates India's central bank ordered four non-bank lenders, including Navi Finserv and DMI Finance, to halt loans from October 21.
India’s central bank ordered four non-bank lenders, including Navi Finserv and DMI Finance, to halt loans from October 21, citing excessive interest rates and regulatory breaches. The Reserve Bank of India said(PDF) the firms violated rules on pricing, income assessment, and asset classification. Many startups and large tech firms, including Google, work with DMI Finance to extend loans to their customers.
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