The Reserve Bank of India (RBI) said on Wednesday that it has canceled the registration certificates of 135 non-banking finance companies (NBFCs). These include companies like Express Fincap House, Akshay Fiscal Services, Times Finance (P), Jupiter Projects (P), Jupiter Finvest, Accel Finance Business Loans and Citywide Financial Services. Let us also tell you what kind of information has come out from RBI regarding NBFCs.
Was registered in Bengal
According to an RBI release, most of the NBFCs whose registration certificates were canceled had their registered offices in West Bengal. In addition, 13 non-banking finance companies have surrendered their certificate of registration to the Central Bank due to ceasing to be a legal entity due to closure of their business or merger/amalgamation/winding up/voluntary deletion of name. The release said that J. Thomas Finance, Ikon-Super Sales, Hitesha Finance and Investments, Tinveli Tuticorin Investments, Carnex Exchange and Impact Leasing surrendered their licenses to exit the Non-Banking Financial Institution (NBFI) business.
They also surrendered their licenses
Additionally, Forerunner Capital Investments’ license was surrendered because it met the criteria for an unregistered core investment company (CIC), which does not require registration. The release further said that NBFCs like Caspian Impact Investments, Hari Darshan Sales, Ivory Consultants, SKA Consultancy Services, Trishita Management and Suban Trades surrendered their licenses due to ceasing to be a legal entity due to merger/amalgamation/dissolution/voluntary demerger etc.
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