RBI Lifts Lending Ban on Asirvad and DMI Finance: Microfinance Companies Resume Operations
In a significant move, the Reserve Bank of India (RBI) has lifted its ban on Asirvad Micro Finance and DMI Finance Pvt Ltd, allowing the two microfinance companies to resume their lending operations. This decision comes as a major relief to the companies, which were previously restricted from sanctioning and disbursing loans. According to an RBI circular issued on Wednesday, the ban has been lifted, paving the way for Asirvad and DMI Finance to restart their microfinance services. This development is expected to have a positive impact on the microfinance sector, which provides financial assistance to low-income individuals and small businesses. With the RBI's decision, Asirvad and DMI Finance can now focus on expanding their microfinance operations, offering loans and other financial services to their customers. The move is also expected to boost financial inclusion and support economic growth in the country. Key services offered by microfinance companies include micro loans, micro credit, and other financial services.
