RBI cancels certificate of registration of three NBFCs

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    The Reserve Bank of India on Tuesday announced that it has cancelled the certificate of registration of three non-banking financial companies (NBFCs). The central bank, however, did not disclose the reason for action.

    "The central bank cancelled registration of Automatrix Commodities Private Limited, Kanak Projects Ltd, and Growell Hire Purchase and Finance Private Limited in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934," it said in a press release.

    Following cancellation of registration certificate, the company cannot transact the business of non-banking financial institution, it added.

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