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Navi Finserv Cancels INR 1 Lakh Cr Bond Sale Amid RBI Scrutiny
- Navi Finserv has withdrawn its planned INR 1 Lakh Cr bond sale.
- The decision comes after the RBI barred Navi and three other NBFCs from issuing new loans due to high interest rates.
- Shobhit Agarwal, head of Navi's lending division, stated there was no immediate need for external funding.
- The RBI's action was based on concerns about the companies' pricing policies and excessive interest spread.
- Navi Finserv's parent company, Navi Technologies, is planning an IPO.
Source: Inc42
3mo ago

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