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RBI cancels the registration of 8 NBFCs

Published on October 13, 2022
Current Context: Reserve Bank of India canceled the Certificates of Registration (CoR) of eight Non-Banking Finance Companies (NBFC).
RBI cancels the registration of 8 NBFCs
  • Four NBFCs have surrendered their certificates of registration.
  • These include Ashwini Investment Private Ltd, RM Securities Pvt Ltd, Amity Finance Private Ltd, and Matrix Merchandise Ltd.
  • Clause (a) of section 45-I of the Reserve Bank of India states that now these companies shall not transact the business of a non-banking financial institution.
  • RBI has suo-moto canceled certificates of four NBFCs.
  • These include SRM Properties and Finance Company Pvt Ltd, North East Region Finservices Ltd, Sowjenvee Finance Ltd, and Opel Finance Ltd.

Question:

Q.1 Which category of financial institutions are recently de-licensed by RBI?
a. Investment Banks
b. Non-Banking Finance Companies
c. Finance Companies
d. Retail Banks
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