Tuesday, January 25, 2000
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RBI rejects RFPL application
January 24: The RBI on Monday rejected the application for certificate of registration submitted by finance company-Rajavir Finance Private Ltd, in exercise of power conferred on it under section 45IA of RBI Act. "As such the company cannot transact the business of non-banking financial institution as defined in clause (a) of section 45IA of the RBI Act," said a RBI release.
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