RBI Cancels Registration Certificate of Seven NBFCs

Mumbai: Reserve Bank of India has cancelled certificate of registration of seven non-banking financial companies (NBFCs) including that of Religare Finance Limited.

RBI has cancelled the certificate of registration of seven non-banking financial companies (NBFCs) in exercise of the powers conferred on it, Reserve Bank said in a notification on Monday.

Of these, four NBFCs have their offices in Kolkata, while rest three are in New Delhi including Religare Finance Limited.

Other two Delhi-based firms are Artisans Micro Finance Private Limited and RCS Parivar Finance Limited.

The Kolkata-based firms are Nott Investments (P) Ltd, Eden Trade & Commerce Pvt Ltd, Swetasree Finance (P) Ltd and Dewra Stocks & Securities (P) Ltd.

Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution, RBI said.