Navi Finserv Limited

RBI has imposed a monetary penalty of Rs 3.80 lakh on Navi Finserv Limited for non-compliance with directions on recovery agents. The company was found to have contacted customers outside permitted hours and to have breached messaging protocol.

Navi Finserv Limited must pay the monetary penalty and continue complying with RBI’s recovery-agent and customer-contact requirements. The order itself does not suspend business, but RBI notes the penalty is without prejudice to any other action it may take in future.

• section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934

RBI has lifted the loan sanctioning and disbursal restrictions on Navi Finserv Limited, Bengaluru. The earlier directions, issued in October 2024, are withdrawn with immediate effect.

Navi Finserv Limited can resume sanctioning and disbursing loans immediately, subject to continuing compliance with RBI’s regulatory guidelines. The withdrawal removes the earlier operational curb that affected the company’s lending activity.

• Section 45L(1)(b) of the Reserve Bank of India Act, 1934