RBI cancels Certificate of Registration of 192 NBFCs

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of 192 companies under Section 45-IA(6) of the RBI Act, 1934. The affected entities are NBFCs, including the named companies listed in the release. With the cancellation in force, they are barred from transacting the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act.