RBI cancels licences of 5 NBFCs, 8 others surrender registrations

The Reserve Bank of India (RBI) on Thursday cancelled the certificates of registration of five non-banking financial companies (NBFCs), while eight other NBFCs surrendered their registrations for various reasons, the central bank said in a release.

The RBI cancelled the licences of Dar's Financial Services, Rolta Holding and Finance Corporation, Vasudeo Securities, Parsoli Corporation and A C Choksi Financial Services.

Also Read: Godrej Wealth to enter mutual fund business next year, targets Rs 1 lakh crore AUM by 2031


Separately, Anupam Mercantile, Grand Motor and Finance, Sky Limit International Finance and ASA International India Microfinance surrendered their licences after exiting the Non-Banking Financial Institution (NBFI) business.

Shivam Securities Pvt Ltd and April Investment and Finance Pvt Ltd surrendered their licences after ceasing to be legal entities due to amalgamation, merger, dissolution or voluntary strike-off, the RBI said.

Also Read: FinMin allays fears of increase in cash transactions post UPI MDR levy: Sources

Anagram Industries surrendered its licence after meeting the criteria prescribed for an unregistered Core Investment Company (CIC) that does not require registration.

CDN Finance surrendered its licence after meeting the criteria prescribed for an unregistered Type I NBFC that does not require registration, according to the RBI release.