RBI cancels Certificate of Registration

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of the following non-banking financial companies under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The provided text does not include the individual company names, but the action is a cancellation of registration, meaning the affected NBFCs can no longer operate as registered NBFCs.

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 cancelled the Certificate of Registration of the following non-banking financial companies in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not name the entities in the provided text, but the action is a cancellation of registration for NBFCs.

Severity Assessment

Cancellation of a Certificate of Registration is a license cancellation, which is a severity 5 action.

Impact

The affected NBFCs lose their RBI registration and cannot continue business as registered NBFCs. Any customers, borrowers, or counterparties dealing with them are impacted by the cessation of their regulated status.

Regulatory Basis

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