Cease & desist: Reserve Bank of India's quick shift on NBFC curbs

Q: How long will it take to read this news story?

The story "Cease &amp; desist: Reserve Bank of India&#039;s quick shift on NBFC curbs" has 149 words across 3 sentences, which will take approximately 1 - 2 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Cease &amp; desist: Reserve Bank of India&#039;s quick shift on NBFC curbs" was covered 11 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 295 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25009909</li><li>URL: https://beamstart.com/news/cease-desist-reserve-bank-of-17364472291963</li></ul>

Business Standard Logo Business Standard 11h ago

Cease & desist: Reserve Bank of India's quick shift on NBFC curbs - Business Standard

Quick Summary:

Don't miss the most important news and views of the day.

On October 17, the Reserve Bank of India (RBI) directed four non-banking finance companies (NBFCs), including NBFC-MFIs, to ‘cease and desist’ from sanctioning and disbursing loans due to practices such as charging usurious interest rates, among others. In December, the restriction was lifted for Navi Finserv, and this month, it was removed for the remaining three NBFCs – Arohan Financial, Asirvad Microfinance, and DMI Finance. This marks the shortest period of business restrictions imposed in the last four years, a practice initiated when the policy for imposing such restrictions was introduced. While it is still too early to determine if there has been a shift in stance regarding business restrictions under the new governor, Sanjay Malhotra, here is a timeline of previous embargoes and their subsequent removal.