Reetu | Jul 13, 2023 |
11 NBFCs surrender their Certificate of Registration to RBI
The Reserve Bank of India has notified in the press release that 11 NBFCs surrender their Certificate of Registration to RBI.
These 11 Non-Banking Finance Companies (NBFCs) surrender their registration certificates to the Reserve Bank of India for a variety of reasons, including withdrawal from the industry, merger, and new legislative amendments that do not need them to be registered as an NBFC.
Two NBFCs each from Maharashtra, Tamil Nadu, and West Bengal, as well as one each from Andhra Pradesh, Telangana, Jharkhand, Haryana, and Delhi, have surrendered registration certificates.
Reasons from which these banks surrender their certificate are given below:
i) Due to exit from Non-Banking Financial Institution (NBFI) business:
ii) Due to meeting the criteria prescribed for unregistered Core Investment Company (CIC) that do not require registration:
iii) Due to NBFC ceasing to be a legal entity due to amalgamation/ merger/dissolution/ voluntary strike-off, etc.:
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