Removal of supervisory restrictions: (i) Asirvad Micro Finance Limited, Chennai and (ii) DMI Finance Private Limited, New Delhi
Case Brief
The Reserve Bank of India has removed supervisory restrictions that had previously been imposed on Asirvad Micro Finance Limited, Chennai, and DMI Finance Private Limited, New Delhi. The release references earlier Directions issued on October 17, 2024 under Section 45L(1)(b) of the RBI Act, 1934, and indicates that those restrictions are now withdrawn. No penalty is stated, and the action is a restoration rather than a fresh adverse measure.
The release announces the removal of supervisory restrictions for Asirvad Micro Finance Limited, Chennai and DMI Finance Private Limited, New Delhi. It states that RBI had earlier issued Directions to these NBFCs under Section 45L(1)(b) of the RBI Act, 1934, and the present action lifts those restrictions. No monetary penalty is mentioned.
Severity Assessment
This is a withdrawal of prior supervisory restrictions, so it has no forward-looking adverse impact and is scored at severity 0.
The two NBFCs are no longer subject to the earlier supervisory restrictions referenced in the release. This restores their operating flexibility under the prior directions framework and removes the specific compliance limitations that had applied under the October 17, 2024 order.
Published as DMI Finance Private Limited
Published as Asirvad Micro Finance Limited
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