RBI Takes Regulatory Actions Regarding NBFCs' Registration
In a recent announcement, the Reserve Bank of India (RBI) has made significant regulatory decisions regarding the registration of non-banking finance companies (NBFCs). The RBI has cancelled the registration certificates of four NBFCs and has received voluntary surrender of licenses from 11 other entities for various reasons, including business exit, amalgamation, and non-requirement for registration as per specific criteria.
The RBI has cancelled the registration certificates of four NBFCs, two from Telangana, and one each from Kerala and Uttar Pradesh. These entities are prohibited from conducting shadow banking activities as defined under the RBI Act, 1934.
Eleven NBFCs have voluntarily surrendered their registration certificates for various reasons:
These regulatory actions underscore the RBI’s commitment to maintaining the integrity and stability of the financial system by ensuring compliance within the NBFC sector.
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