Manappuram Finance Surges 6% as RBI Removes Restrictions on Asirvad Micro Finance
2025-01-09
Business Standard
The Reserve Bank of India (RBI) has lifted restrictions on four non-banking financial companies (NBFCs), including Asirvad Micro Finance, which were imposed in October due to exorbitant interest rates charged to borrowers. This move is expected to boost the microfinance sector, with Manappuram Finance stock rising 6% following the announcement. The removal of restrictions is seen as a positive development for NBFCs, allowing them to resume normal operations and provide financial services to their customers. With the RBI's decision, Asirvad Micro Finance can now focus on microfinance lending and financial inclusion, key areas of growth for the company.
