Press Releases - Regulating Non-Banking - RBI - Reserve Bank of India
Press Releases
Oct 29, 2020
Two NBFCs surrender their Certificate of Registration to RBI
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Snehalata Finance Limited 6-3-871, Snehalata Complex, Greenlands Ro
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Snehalata Finance Limited 6-3-871, Snehalata Complex, Greenlands Ro
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Sep 30, 2020
Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter Beginning October 1, 2020
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning October 1, 2020 will be 8.12 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the aver
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning October 1, 2020 will be 8.12 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the aver
Sep 24, 2020
Reserve Bank of India imposes monetary penalty on Shriram City Union Finance Limited
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2020, a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Shriram City Union Finance Limited, Chennai (the company), for non-compliance with directions issued by RBI on verification of the ownership of gold jewellery contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and on reporting of
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2020, a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Shriram City Union Finance Limited, Chennai (the company), for non-compliance with directions issued by RBI on verification of the ownership of gold jewellery contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and on reporting of
Aug 31, 2020
Nine NBFCs surrender their Certificate of Registration to RBI
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Atna Investments Private Limited (Presently known as Atna Investmen
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Atna Investments Private Limited (Presently known as Atna Investmen
Aug 31, 2020
RBI cancels Certificate of Registration of Nineteen NBFCs
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 MVA Finance Private Limited 102, Akashdeep Building, 26A, Barakhamba Road, New Delhi – 110001 14.00684 April 24, 1998 March 16, 2020 2 Apka Sahyog Finance & Mercan
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 MVA Finance Private Limited 102, Akashdeep Building, 26A, Barakhamba Road, New Delhi – 110001 14.00684 April 24, 1998 March 16, 2020 2 Apka Sahyog Finance & Mercan
Jun 30, 2020
Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter Beginning July 1, 2020
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning July 1, 2020 will be 8.61 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the average
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning July 1, 2020 will be 8.61 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the average
May 19, 2020
Nine NBFCs surrender their Certificate of Registration to RBI
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Distributors (Bombay) Pvt. Ltd. (Formerly known as Distributors (Bo
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Distributors (Bombay) Pvt. Ltd. (Formerly known as Distributors (Bo
May 19, 2020
RBI cancels Certificate of Registration of Fourteen NBFCs
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Jayabharat Credit Limited 22, Rajabahadur Mansion, 4th floor, Opp. SBI Main Branch, Near Stock Exchange, Samachar Marg, Mumbai -400023 13.01132 June 03, 2008 December
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Office Address CoR No. Date of issue of CoR Date of Cancellation of CoR 1 Jayabharat Credit Limited 22, Rajabahadur Mansion, 4th floor, Opp. SBI Main Branch, Near Stock Exchange, Samachar Marg, Mumbai -400023 13.01132 June 03, 2008 December
Mar 31, 2020
Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter Beginning April 1, 2020
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 1, 2020 will be 8.76 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the averag
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 1, 2020 will be 8.76 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the averag
Mar 11, 2020
RBI cancels Certificate of Registration of Two NBFCs
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Registered Office address of the Company CoR No Date of issue of CoR Date of Cancellation of CoR 1. Sahayog Enterprises Private Limited SCO 2A, 2nd Floor, Sector-7C, Madhya Marg, Chandigarh-160008 B-06.00296 June 28, 2000 January 30, 2020 2.
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Registered Office address of the Company CoR No Date of issue of CoR Date of Cancellation of CoR 1. Sahayog Enterprises Private Limited SCO 2A, 2nd Floor, Sector-7C, Madhya Marg, Chandigarh-160008 B-06.00296 June 28, 2000 January 30, 2020 2.
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