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RBI cancels registration certificates of 8 NBFCs

Four NBFCs surrendered their certificates of registration to the RBI, the central bank said in a release.

RBI cancels registration certificates of 8 NBFCs
RBI suo-moto cancelled certificates of another four NBFCs — SRM Properties and Finance Company Pvt Ltd, North East Region Finservices Ltd, Sowjenvee Finance Ltd and Opel Finance Ltd. (IE)

The Reserve Bank of India (RBI) on Wednesday cancelled certificates of registration of eight non-banking finance companies (NBFC).

Four NBFCs surrendered their certificates of registration to the RBI, the central bank said in a release. The four NBFCs are — Ashwini Investment Private Ltd, RM Securities Pvt Ltd, Amity Finance Private Ltd and Matrix Merchandise Ltd.

Separately, the RBI suo-moto cancelled certificates of another four NBFCs — SRM Properties and Finance Company Pvt Ltd, North East Region Finservices Ltd, Sowjenvee Finance Ltd and Opel Finance Ltd.

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“The above companies shall not transact the business of a non-banking financial institution, as defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934,” the central bank said.

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First published on: 13-10-2022 at 07:30:52 am