The Reserve Bank of India (RBI) has permitted Navi Finserv to proceed with home loan disbursals that were sanctioned before October 20, 2024, as per news agency PTI. This decision provides relief to numerous homebuyers awaiting funds for pre-approved loans that had been halted by recent RBI directives.
Earlier this month, the RBI directed Navi Finserv to cease all new loan sanctions and disbursals starting from October 21 due to supervisory concerns, including high pricing of loans. Navi Finserv announced that the regulatory allowance applies to scheduled home loan disbursements through December 31, 2024.
The RBI imposed similar restrictions on other non-banking financial companies (NBFCs), including DMI Finance, Arohan Financial Services, and Asirvad Micro Finance.
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