RBI eases curbs on NBFCs as compliance improves after supervisory actions

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RBI eases curbs on NBFCs as compliance improves after supervisory actions - Business Standard

Quick Summary:

The RBI on Wednesday removed restrictions imposed on DMI Finance and Manappuram Finance-owned Asirvad Micro Finance with immediate effect.

The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.

High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.