RBI Lifts Lending Restrictions On Arohan Financial Services Immediately

The Reserve Bank of India has lifted lending restrictions on Arohan Financial Services Ltd. with immediate effect, the central bank said in a release on Friday.

The restrictions were removed after the RBI was satisfied with the Kolkata-based company's submissions and its adoption of revamped processes, systems and commitment to ensure adherence to the regulatory guidelines on an ongoing basis, it said.

On Oct. 17, the RBI had asked the non-banking financial company to cease and desist from sanction and disbursal of loans from Oct. 21.