Action on BNR Udyog
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s BNR Udyog Ltd, an NBFC, under Section 45-IA(6) of the Reserve Bank of India Act, 1934. This is a licence-cancellation action and prevents the company from continuing as an RBI-registered NBFC.
The Reserve Bank of India cancelled the Certificate of Registration of M/s BNR Udyog Ltd, a non-banking financial company, in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not provide additional factual grounds beyond the cancellation order itself.
Severity Assessment
Cancellation of a Certificate of Registration is a license cancellation, which is severity 5 regardless of whether a monetary penalty is involved.
M/s BNR Udyog Ltd can no longer operate as an RBI-registered NBFC. The cancellation has immediate forward-looking impact on its NBFC business and any customers or counterparties relying on that registration.
Published as M/s BNR Udyog Ltd
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