RBI Cancels Registration of Seven Non-Banking Financial Companies
Reserve Bank of India cancels registration of 7 NBFCs, including 2 CICs
Business Standard
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The Reserve Bank of India (RBI) has cancelled the registration of seven non-banking financial companies (NBFCs) that surrendered their certificates. This includes firms exiting the NBFI sector and those qualifying as unregistered core investment companies (CICs).
- 01Seven NBFCs surrendered their registration to the RBI.
- 02Four companies exited the NBFI business, leading to cancellation.
- 03Two companies met criteria for unregistered core investment companies.
- 04One company ceased to exist due to legal reasons.
- 05RBI also cancelled registrations for 150 other NBFCs.
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The Reserve Bank of India (RBI) has cancelled the registrations of seven non-banking financial companies (NBFCs) that voluntarily surrendered their certificates of registration (CoR). The companies affected include Guru Kripa Finvest, Gajraj Securities & Services, Ashok Viniyoga, and Purvanchal Investment and Trading Company, which exited the non-banking financial institution (NBFI) business. Additionally, the CoRs of RR Holdings and Anjali Capfin were cancelled as they qualified as unregistered core investment companies (CICs), which do not require registration. The CoR of HDFC Holdings was also cancelled after the company ceased to be a legal entity due to amalgamation or related reasons. In a separate action, the RBI cancelled the CoRs of 150 other NBFCs while restoring the CoR of Krishna Capfin.
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The cancellation of registrations may affect the financial services available to consumers and businesses in the sectors these companies operated.
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