The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions.

India’s new central bank governor said the economy will probably rebound next year on the back of strong consumer and business confidence, his first public comments about the growth outlook since he took office earlier this month.

The Reserve Bank on Wednesday lifted the business restrictions placed on Chennai-based Asirvad Micro Finance and New Delhi-based DMI Finance with immediate effect

The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions. High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth,