RBI cancels Certificate of Registration of NBFC

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of the concerned non-banking financial company under Section 45-IA(6) of the Reserve Bank of India Act, 1934. No additional entity name or underlying factual breach is stated in the provided text.

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 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 further factual details about the specific compliance breach, but the action is a cancellation of the NBFC’s registration.

Severity Assessment

Cancellation of a Certificate of Registration is a full licence/registration cancellation, which is severity 5.

Impact

The NBFC can no longer operate as a registered non-banking financial company. Any business activity requiring a valid CoR is affected immediately, though the release does not specify a transition period or further instructions.

Regulatory Basis

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