RBI cancels certificates of as many as 31 NBFCs
Updated: Nov 10, 2018 09:13:21am
RBI cancels certificates of as many as 31 NBFCs
New Delhi, Nov 10 (KNN) The Reserve Bank of India (RBI) on Friday cancelled certificates of as many as 31 Non-Banking Financial Companies (NBFCs).
In November, so far, certificates of 61 NBFCs have been cancelled.
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 31 NBFCs, RBI cancelled certificates of 27 companies from West Bengal.
The rest of the 4 companies which have lost their license are from Uttar Pradesh.
Without specifying a reason, RBI in a notification said “It has cancelled the certificates of registration of as many as 31 NBFC’s.”