The Reserve Bank of India (RBI) on 8 September 2016 cancelled the certificate of registration of five non-banking financial companies (NBFCs).
Now, these companies will not be able to transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
The NBFCs whose certificate of registration were cancelled includes
• M/s Simco Consultants Private Limited
• M/s Lunkad Securities Ltd
• M/s Rajvir Marketing and Investment Private Limited
• M/s Crystal Investments Limited
• M/s Shri Jaya Investments Agency Limited (formerly known as Arcot Finance & Agency Limited)
The certificates were cancelled in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
What: Cancelled by RBI
When: 8 September