RBI cancels Certificate of Registration

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of the NBFCs covered by this release under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release says the cancellation was made on supervisory grounds. No specific entity names are visible in the provided text segment.

Action Snapshot

Primary Impact: License cancellation
Entity Type: NBFC
Action Type: License cancellation
Order Date

Unknown date

Effective From

Unknown date

Entities Affected

1

Why RBI Acted

Governance oversight

The Reserve Bank of India cancelled the certificate of registration of the following non-banking financial companies (NBFCs) in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release states the action was taken on supervisory grounds.

Severity Assessment

Cancellation of a Certificate of Registration is a complete licence cancellation, which is severity 5.

Impact

The affected NBFCs can no longer operate as registered NBFCs. Any ongoing lending or financial intermediation activity must cease unless permitted under some other lawful framework, and counterparties should treat the registration status as cancelled.

Regulatory Basis

Section 45-IA (6) of the Reserve Bank of India Act, 1934