The Reserve Bank of India recently took an important decision regarding Paytm Payment Bank. After which several restrictions were imposed by RBI on the operations of Paytm Payments Bank. So RBI has also initiated strict action against non-compliance of banking regulations. RBI has taken an important step and canceled the registration certificates of three NBFCs. Apart from this many NBFCs have also surrendered their licences.
Cancellation of registration certificate
Now another strict step has been taken by RBI. This step three is related to NBFCs. RBI has canceled the registration certificates of three non-banking finance companies. These three NBFCs are Bharathu Investment and Finance India, Cox & Kings Financial Services and PSPR Enterprises Private Limited.
License surrendered
Along with this, a separate notification from the RBI said that 9 NBFCs and one housing finance company have surrendered their licences. Some of them have gone out of business and surrendered their licences. So Reliance Home Finance Limited has surrendered its license after exiting the housing finance institution business.
Among these nine NBFCs, SMILE Microfinance, JFC Impex Private Limited, Kaveri Tradefin Private Limited and Guinea Tradefin Limited have surrendered their licenses after going out of business. JG Trading & Investment Pvt Ltd, SK Finserv Pvt Ltd, Microfirm Capital Pvt Ltd, Bohra & Company Pvt Ltd and Mahiko Grow Finance Pvt Ltd have surrendered their licenses as they have ceased to be legal entities following consolidation/merger/dissolution/voluntary strike. had done
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