The Reserve Bank of India has on August 13, 2009 cancelled the certificate of registration granted to Joyce Finance Pvt. Ltd., having its registered office at No. 32, 13th Cross, Wilson Garden, Bangalore-560027 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the company cannot transact the business of a non-banking financial institution.

By the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of a non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

J.D. Desai
Assistant Manager

Press Release : 2009-2010/375