RBI removes sanctions on Asirvad Micro Finance and DMI Finance

The Reserve Bank of India (RBI) has lifted sanctions on two microfinance institutions, Asirvad Micro Finance and DMI Finance. These institutions were previously under regulatory restrictions for non-compliance with certain RBI norms. The removal of sanctions means that both institutions can now resume normal operations and continue providing financial services, particularly to low-income households and small businesses. This move is seen as a positive sign for the microfinance sector, encouraging more inclusive access to financial services. The RBI’s decision follows corrective actions taken by the institutions, which have since met the necessary regulatory standards.