Regulatory Crackdown: RBI Cancels Licenses of 13 NBFCs, Including 11 in West Bengal:
In a sweeping regulatory enforcement action to tighten oversight across India’s shadow banking sector, the Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoR) of 13 non-banking financial companies (NBFCs). The punitive cancellations were executed under the statutory powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934, … Read more