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

  • Enhanced allocations are needed for research to ‘Make in India’ for India

    Even as India flaunts its ambitious ‘Make in India’ initiative from February 13, it spurs several questions.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

The importance of Indonesia

A few weeks ago, the wo­rld was shocked by a ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Bubbles Sabharwal

Social media versus real life

It’s amazing how social media brings out the best side ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture