RBI cancels Certificate of Registration of one NBFC

Case Brief

The Reserve Bank of India has cancelled the Certificate of Registration of one NBFC under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The provided text does not include the company name or any underlying factual allegations, only the statutory basis for 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 exercised its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934 to cancel the Certificate of Registration of the NBFC mentioned in the release. The text provided does not state the company name or any additional factual basis beyond the statutory cancellation order.

Severity Assessment

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

Impact

The affected NBFC can no longer operate as a registered NBFC. Any ongoing lending or other regulated financial activity under that registration must stop, subject to any separate legal or winding-up requirements.

Regulatory Basis

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