New Delhi, Jan 25 (KNN) Reserve Bank of India (RBI) has cancelled the certificates of as many as 5 Non-Banking Financial Companies (NBFCs) on January 24, 2019.

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 these five NBFCs, 2 companies are from New Delhi, 1 company from Punjab, one from Uttarakhand and one from West Bengal.

Besides, on the same day, as many as 5 NBFCs surrendered Certificate of Registration granted to them by the Reserve Bank of India.

Of those 5 NBFCs, 4 were from West Bengal and other one was from Haryana.

RBI said “The above companies shall not transact the business of a Non-Banking Financial Institution.”