Non-banking financial companies

Regulatory Crackdown: RBI Cancels Licenses of 13 NBFCs, Including 11 in West Bengal:

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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

RBI Cancels Registration of 13 NBFCs; 10 More Surrender Certificates

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As per the official press release issued on Friday, the Reserve Bank of India (RBI) has revoked the Certificates of Registration (CoRs) of 13 non-banking financial companies (NBFCs). This list includes 11 companies which are registered in West Bengal. These companies are not allowed to conduct any non-banking financial operations in future. The central bank … Read more