RBI cancelled certificate of registration of five NBFCs
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Posted on:10 Sep 2016 18:08:38
10 September 2016 Current Affairs: The Reserve Bank of India (RBI) has cancelled the certificate of registration of five non-banking financial companies (NBFCs) on 8 September 2016.
Now, these companies will not be able to 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.The cancelled non-banking financial companies (NBFCs) are
Simco Consultants Private Limited
Lunkad Securities Ltd
Rajvir Marketing and Investment Private Limited
Crystal Investments Limited
Jaya Investments Agency Limited (formerly known as Arcot Finance & Agency Limited)
The certificates were cancelled in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
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