RBI cancels registration of SO-EX Investment & Finance

MUMBAI: Non-banking financial institution SO-EX Investment & Finance has exited the business, following which the Reserve Bank has cancelled its licence.

"The RBI has on January 16, 2009, cancelled the certificate of registration granted to SO-EX Investment & Finance...for carrying on the business of a non-banking financial institution as the company has opted to exit from the business," the banking regulator said in a release.

The RBI said it has the power to cancel the registration certificate of an NBFC as per the Reserve Bank of India Act, 1934.