RBI cancels registration of Microland Investment

MUMBAI: Reserve Bank has cancelled the registration certificate of the Bangalore-based Microland Investments following the request of the company to opt out of the non-banking financial business.

"Following cancellation of the registration certificate, Microland Investments Pvt Ltd cannot transact the business of a non-banking financial institution," RBI said in a release on Tuesday.

The Bangalore-based Microland group is an IT infrastructure service provider, offering comprehensive range of services to domestic and global clients across the US, the UK and the Middle East.

Microland, according to the company website, is the only Infrastructure Gold Partner of Microsoft in India and has strategic partnerships with global giants like Dell, Avaya, Symantec and VMware.