More than a month after lifting ban on Sachin Bansal-led Navi Finserv, the Reserve Bank of India (RBI) has removed supervisory restrictions imposed on other non-banking financial companies (NBFC) -- Chennai-based Asirvad Micro Finance and Delhi-based DMI Finance Private, with immediate effect.

Asirvad Microfinance is microlending arm of Manappuram Finance.

"Now, having satisfied itself based on companies’ submissions, and in view of their adoption of revamped processes, systems, and the companies’ 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 both, Asirvad Micro Finance Limited and DMI Finance Private Limited, with immediate effect," RBI said in press release.

In October, the banking regulator had barred four NBFCs to "cease and desist" from sanction and disbursal of loans. This action was based on material supervisory concerns observed in the Pricing Policy of these companies in terms of their Weighted Average Lending Rate (WALR) and the Interest Spread charged over their cost of funds, which are found to be excessive and not in adherence with the regulations.