RBI cancels certificates of registration of 30 NBFCs

New Delhi, Dec 20 (KNN) The Reserve Bank of India (RBI) has cancelled certificates of as many as 30 Non-Banking Financial Companies (NBFCs) in the month of December.

RBI said “These companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.”

Of 30 NBFCs, RBI cancelled certificates of 19 companies from West Bengal, 8 companies from New Delhi and 3 companies from Uttar Pradesh.