Mumbai, Sep 24 (KNN) The Reserve Bank of India (RBI) has cancelled the certificates of two non-banking financial companies (NBFCs), while two others have surrendered their certificates.

The certificates of Nashik based M/s S.P. Global Finance and Investment Private Limited (Formerly Latur Finance and Investment Private Limited) and Ludhiana based M/s Skylark Deposit and Advances Limited have been cancelled.

In a notification, the RBI said these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-IA of the Reserve Bank of India Act, 1934.

Meanwhile, Jhandewalan Extension, New Delhi based M/s Das Securities Limited and Guwahati based M/s Pooja Finance Limited have surrendered their certificates to the apex bank.

Recently, RBI has cancelled certificates of 7 NBFCs and 5 others surrendered their certificates. (KNN Bureau)