RBI cancels registration of 4 non-banking companies
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RBI cancels registration of 4 non-banking companies
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Answer:
The Reserve Bank of India (RBI) has canceled the registration of four non-banking companies. This action is often taken due to non-compliance with regulatory guidelines, financial irregularities, or failure to meet the necessary criteria set by the RBI. The cancellation of registration is a regulatory measure to maintain the integrity and stability of the financial system. If you need more detailed information, it is advisable to refer to the official statements or releases from the RBI regarding this matter.
Verified answer
Yes, the Reserve Bank of India (RBI) has cancelled the registration of four non-banking financial companies (NBFCs) on September 28, 2023. The four NBFCs are:
The RBI cancelled the registration of these NBFCs for various reasons, including:
The cancellation of registration means that these NBFCs can no longer operate as financial institutions. They cannot accept deposits from the public or lend money.
The RBI's cancellation of registration of these NBFCs is a reminder that the central bank is serious about protecting the interests of depositors and borrowers. It is also a warning to other NBFCs to comply with the RBI's regulations and operate in a safe and sound manner.
Here are some tips for depositors to protect themselves from NBFCs that may be in financial trouble:
If you are concerned about the financial health of an NBFC, you can contact the RBI to file a complaint.