Ujjivan Financial Services, Fino Finance, other NBFCs surrender licenses

Ujjivan Financial Services, Fino Finance and seven other non-banking finance companies have surrendered their respective licenses, due to various reasons.

Ujjivan Financial Services ceased to be a legal entity following its reverse merger with Ujjivan Small Finance Bank and therefore the move to surrender the NBFC license is a mere technical one.



Fino Finance, on the other hand, exited from the NBFC business and therefore surrendered the license. Four other little known entities did the same, according to the central bank.


Meanwhile, Allegro Holdings, Temple Trees Impex & Investment, Hem Financial Services forgoed their licenses since they met the criteria prescribed for unregistered Core Investment Company CIC and therefore do not require separate registration.