RBI cancels licenses of six Delhi-based NBFCs

Tags: News
The Reserve Bank has cancelled the licenses of six Delhi-based non banking financial companies following which they would not be able to conduct business.

"The Reserve Bank of India has cancelled the certificate of registration of the following non-banking financial companies (NBFCs): GE Strategic Investments India, Profound Exports, Two Brothers Holding, Swank Services Private Ltd, Praxis Consulting and Information Services and Credible Microfinance Ltd," RBI said in a notification.

Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution, it added.

However, the RBI did not provide any reasons for the cancellation of certificate of registration.

The licenses of these companies were cancelled on various dates in April, May and June 2014.

EDITORIAL OF THE DAY

  • Modi’s team seems to have made modest inroads into Trump’s White House

    The moot question being asked in political circles is this: where do Indo-US relations go after the hectic two-day whirlwind tour of prime minister Na

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Freedom Files : THE LAST SHEPHERD

The deep sense of foreboding was still to set in, ...

Susan Visvanathan

Ideologies are myopic

While multinationals have stabilised in India, and recruitment portals are ...

Rajgopal Nidamboor

Your attitude can transform your life

Our attitude reflects our feelings, beliefs, or frame of mind, ...