Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Poorna Prajna Fincap Private Limited, Bangalore, under Section 45-IA(6) of the RBI Act, 1934. The release says the company had opted to exit the business of a non-banking financial institution, and after cancellation it cannot transact NBFC business. This is a licence cancellation rather than a temporary restriction.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Bangalore, Karnataka
- Order Date