06 January 2025
The Reserve Bank of India (RBI) has lifted supervisory restrictions imposed on Arohan Financial Services Limited, Kolkata, effective 3 January 2025.
On 21 October 2024, India’s central bank issued a cease and desist from sanction and disbursal of loans to the financial company.
Arohan Financial Services Limited reportedly initiated remedial action and submitted its various compliances to the central bank. Amongst these is “ensuring fairness in loan pricing,” RBI said in a statement posted on its website.
“Now, having satisfied itself based on company’s submissions, and in view of their adoption of revamped processes, systems, and the company’s commitment to ensure adherence to the Regulatory Guidelines on an ongoing basis, especially for ensuring fairness in the loan pricing, the Reserve Bank has decided to lift the afore-mentioned restrictions placed on Arohan Financial Services Limited, with immediate effect,” the statement read.
The Reserve Bank of India (RBI) has lifted supervisory restrictions imposed on Arohan Financial Services Limited, Kolkata, effective 3 January 2025.
On 21 October 2024, India’s central bank issued a cease and desist from sanction and disbursal of loans to the financial company.
Arohan Financial Services Limited reportedly initiated remedial action and submitted its various compliances to the central bank. Amongst these is “ensuring fairness in loan pricing,” RBI said in a statement posted on its website.
“Now, having satisfied itself based on company’s submissions, and in view of their adoption of revamped processes, systems, and the company’s commitment to ensure adherence to the Regulatory Guidelines on an ongoing basis, especially for ensuring fairness in the loan pricing, the Reserve Bank has decided to lift the afore-mentioned restrictions placed on Arohan Financial Services Limited, with immediate effect,” the statement read.
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