RBI cancels Certificate of Registration of four NBFCs

RBI cancels Certificate of Registration of four NBFCs The Reserve Bank of India(RBI) has cancelled the Certificate of Registration of the following four companies, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. These four companies are S.R.M. Properties And Finance Company Pvt. Ltd, North East Region Finservices Limited, Sowjenvee Finance Limited, Opel Finance Limited. Details are given below: As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.