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Navi Calls Off INR 100 Cr Bond Sale After RBI Crackdown

  • Navi Finserv, backed by Sachin Bansal, has called off its proposed INR 100 Cr bond sale due to regulatory scrutiny.
  • The company had planned to raise funds by issuing two-year and three-month bonds.
  • The decision comes after the Reserve Bank of India (RBI) barred Navi and other NBFCs from sanctioning new loans, citing excessive interest rates.
  • Navi Finserv's parent company, Navi Technologies, is planning an IPO to raise funds for its subsidiaries.

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