RBI cancels Certificate of Registration of 9 NBFCs and 10 other NBFCs surrender their Certificate of Registration

A. RBI cancels Certificate of Registration of 9 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial companies (NBFCs). The Reserve Bank, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

As such, the above companies cannot transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-IA of the RBI Act, 1934.

Ref: RBI Press Release : 2016-2017/2098 Date : Feb 06, 2017

B. 10 NBFCs surrender their Certificate of Registration to RBI

The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration.

As such, the above companies cannot transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

Ref: RBI Press Release: 2016-2017/2097 Date : Feb 06, 2017