RBI Cancels Registration Certificate Of 4 NBFCs

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The Reserve Bank of India has cancelled the registration certificate of four non-banking financial companies (NBFCs).

"The Reserve Bank of India (RBI) has cancelled the certificate of registration of four non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934," RBI said in a notification.

RBI Cancels Registration Certificate Of 4 NBFCs

The companies whose licences have been cancelled are Kolkata-based Neelanjali Engineering, and Novoflex Tradecom; Mumbai-based Guide Investments and Trading, and Pune-based Enol Ventures.

Accordingly, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Read more about: rbi
Story first published: Wednesday, May 11, 2016, 12:20 [IST]
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