RBI cancels Certificate of Registration

Case Brief

In this release, the Reserve Bank of India says it has cancelled the Certificate of Registration of the following non-banking financial companies (NBFCs) under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The excerpt provided does not list the affected entities or specify the underlying facts that led to cancellation.

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

Licensing breach

The Reserve Bank of India states that it has cancelled the Certificate of Registration of the following non-banking financial companies (NBFCs) under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The provided excerpt does not include the individual entity names or the factual basis for the cancellation beyond the statutory authority invoked.

Severity Assessment

Cancellation of Certificate of Registration is a complete licence cancellation, which carries severity 5 regardless of monetary amount.

Impact

The affected NBFCs can no longer operate as registered NBFCs under the cancelled Certificate of Registration. The release, as provided, does not specify any deadline or remediation path, and the specific companies affected are not named in the excerpt.

Regulatory Basis

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