Press Releases - Regulating Non-Banking - RBI - Reserve Bank of India
Press Releases
Feb 09, 2023
RBI cancels Certificate of Registration of 1 NBFC
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 company. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Balaji Instalments Limited Madhuban Shopping Complex, Station Road, Pilibhit, Uttar Pradesh-262001 A-12.00269 May 28, 2008 January 12, 2023 As such, the above company sh
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 company. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Balaji Instalments Limited Madhuban Shopping Complex, Station Road, Pilibhit, Uttar Pradesh-262001 A-12.00269 May 28, 2008 January 12, 2023 As such, the above company sh
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Jan 31, 2023
Reserve Bank of India appoints Shri V Ramachandra as a member in the Advisory Committee of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL)
Reserve Bank of India, vide its press release dated October 11, 2021, had constituted an Advisory Committee under Rule 5 (c) of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019, to advise the Administrator in the operations of the financial service providers during the corporate insolvency resolution process. Subsequently, upon the resignation of Shri R. Subraman
Reserve Bank of India, vide its press release dated October 11, 2021, had constituted an Advisory Committee under Rule 5 (c) of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019, to advise the Administrator in the operations of the financial service providers during the corporate insolvency resolution process. Subsequently, upon the resignation of Shri R. Subraman
Jan 11, 2023
10 NBFCs and One ARC surrender their Certificate of Registration to RBI
The following 10 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Due to exit from Non-Banking Financial Institution (NBFI) business: Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancella
The following 10 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Due to exit from Non-Banking Financial Institution (NBFI) business: Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancella
Jan 04, 2023
RBI releases Annual Report of Ombudsman Schemes, 2021-22
The Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for the period April 01, 2021 – March 31, 2022 today. With the year also marking the launch of Reserve Bank – Integrated Ombudsman Scheme (RB-IOS) on November 12, 2021, the Annual Report covers the activities under the erstwhile Ombudsman Schemes i.e., Banking Ombudsman Scheme, 2006 (BOS), the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (OSNBFC), and the Ombudsman Scheme
The Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for the period April 01, 2021 – March 31, 2022 today. With the year also marking the launch of Reserve Bank – Integrated Ombudsman Scheme (RB-IOS) on November 12, 2021, the Annual Report covers the activities under the erstwhile Ombudsman Schemes i.e., Banking Ombudsman Scheme, 2006 (BOS), the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (OSNBFC), and the Ombudsman Scheme
Dec 13, 2022
Three NBFCs surrender their Certificate of Registration to RBI
The following three Non-Banking Financial Companies (NBFCs) have surrendered the Certificate of Registration (CoR) granted to it by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Due to exit from Non-Banking Financial Institution (NBFI) business: Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancel
The following three Non-Banking Financial Companies (NBFCs) have surrendered the Certificate of Registration (CoR) granted to it by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Due to exit from Non-Banking Financial Institution (NBFI) business: Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancel
Dec 13, 2022
RBI cancels Certificate of Registration of two NBFCs
The Reserve Bank of India (RBI), 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 (CoR) of the following two companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Nedumpillil Financial Company Limited 41/3793, IInd Floor, Carmel Centre Building, Banerji Road, Kochi, Kerala- 682018 B-16.00124 September 25, 2002 No
The Reserve Bank of India (RBI), 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 (CoR) of the following two companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Nedumpillil Financial Company Limited 41/3793, IInd Floor, Carmel Centre Building, Banerji Road, Kochi, Kerala- 682018 B-16.00124 September 25, 2002 No
Dec 01, 2022
Voluntary Surrender of CoR by NBFCs (including HFCs) for cancellation - Application form and Indicative checklist
The Reserve Bank receives requests from NBFCs (including HFCs) seeking to surrender the Certificate of Registration (CoR) voluntarily on account of ceasing to carry out the business of Non-Banking Financial Institution or Housing Finance Institution / conversion to unregistered Core Investment Company / amalgamation or merger with other entity etc. In order to streamline the process of voluntary cancellation of CoR, the Reserve Bank today has uploaded the application
The Reserve Bank receives requests from NBFCs (including HFCs) seeking to surrender the Certificate of Registration (CoR) voluntarily on account of ceasing to carry out the business of Non-Banking Financial Institution or Housing Finance Institution / conversion to unregistered Core Investment Company / amalgamation or merger with other entity etc. In order to streamline the process of voluntary cancellation of CoR, the Reserve Bank today has uploaded the application
Nov 10, 2022
Five NBFCs surrender their Certificate of Registration to RBI
The following five Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Due to exit from Non-Banking Financial Institution (NBFI) business: Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancel
The following five Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Due to exit from Non-Banking Financial Institution (NBFI) business: Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancel
Nov 10, 2022
RBI cancels Certificate of Registration of two NBFCs
The Reserve Bank of India (RBI), 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 two companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Grihastha Finance Limited Shivpuri, Near Dhrampur High School, Tajpur Road, Samastipur, Bihar - 848101 A-15.00049 May 08, 2002 October 10, 2022 2 Pawan Motor
The Reserve Bank of India (RBI), 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 two companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Grihastha Finance Limited Shivpuri, Near Dhrampur High School, Tajpur Road, Samastipur, Bihar - 848101 A-15.00049 May 08, 2002 October 10, 2022 2 Pawan Motor
Oct 12, 2022
Cancellation of the CoR of Brickwork Ratings India Private Limited by SEBI
The Securities and Exchange Board of India has cancelled the Certificate of Registration (CoR) granted to Brickwork Ratings India Private Limited as a Credit Rating Agency (CRA), vide Order WTM/ASB/MIRSD/MIRSD_CRADT/20175/2022-23 dated October 6, 2022. The CRA has been directed to wind down its operations within a period of six months from the date of the aforesaid Order and not to take any new clients /fresh mandates from the date of Order ibid. 2. In view of the abo
The Securities and Exchange Board of India has cancelled the Certificate of Registration (CoR) granted to Brickwork Ratings India Private Limited as a Credit Rating Agency (CRA), vide Order WTM/ASB/MIRSD/MIRSD_CRADT/20175/2022-23 dated October 6, 2022. The CRA has been directed to wind down its operations within a period of six months from the date of the aforesaid Order and not to take any new clients /fresh mandates from the date of Order ibid. 2. In view of the abo
Oct 12, 2022
RBI cancels Certificate of Registration of four 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 four companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 S.R.M. Properties And Finance Company Pvt. Ltd Flat No. 817, 8th Floor, Block - Topaz Urbana Jewels, Off SEZ Road, Sanganer, Jaipur, Rajasthan - 302026 B-10.00178
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 four companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 S.R.M. Properties And Finance Company Pvt. Ltd Flat No. 817, 8th Floor, Block - Topaz Urbana Jewels, Off SEZ Road, Sanganer, Jaipur, Rajasthan - 302026 B-10.00178
Oct 12, 2022
Four NBFCs surrender their Certificate of Registration to RBI
The following four Non-Banking Financial Companies (NBFCs) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Ashwini Investment Private Limited 78/3, Janpath, Second F
The following four Non-Banking Financial Companies (NBFCs) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Ashwini Investment Private Limited 78/3, Janpath, Second F
Oct 06, 2022
RBI launches दक्ष (DAKSH) - Reserve Bank’s Advanced Supervisory Monitoring System
The Reserve Bank of India has been taking various initiatives in strengthening supervision, which among other initiatives include adoption of latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes. In continuation of this effort, Shri Shaktikanta Das, Governor, today launched a new SupTech initiative named “दक्ष (DAKSH) - Reserve Bank’s Advanced Supervisory Monitoring System”, which is expected to
The Reserve Bank of India has been taking various initiatives in strengthening supervision, which among other initiatives include adoption of latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes. In continuation of this effort, Shri Shaktikanta Das, Governor, today launched a new SupTech initiative named “दक्ष (DAKSH) - Reserve Bank’s Advanced Supervisory Monitoring System”, which is expected to
Sep 30, 2022
RBI releases list of NBFCs in the Upper Layer under Scale Based Regulation for NBFCs
The Reserve Bank of India announced today the list of NBFCs in the Upper Layer under Scale Based Regulation for NBFCs. 2. The Reserve Bank had issued the Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs (the framework) on October 22, 2021. The framework categorises NBFCs in Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). It specifies that Upper Layer shall comprise of those NBFCs which are specifically
The Reserve Bank of India announced today the list of NBFCs in the Upper Layer under Scale Based Regulation for NBFCs. 2. The Reserve Bank had issued the Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs (the framework) on October 22, 2021. The framework categorises NBFCs in Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). It specifies that Upper Layer shall comprise of those NBFCs which are specifically
Sep 22, 2022
Action against Mahindra & Mahindra Financial Services Ltd., under Section 45L(1)(b) of the Reserve Bank of India Act, 1934
The Reserve Bank of India has today, in exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, directed Mahindra & Mahindra Financial Services Ltd. (MMFSL), Mumbai, to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders. However, the said NBFC may continue to carry out recovery or repossession activities, through its own employees. This action is based on certain
The Reserve Bank of India has today, in exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, directed Mahindra & Mahindra Financial Services Ltd. (MMFSL), Mumbai, to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders. However, the said NBFC may continue to carry out recovery or repossession activities, through its own employees. This action is based on certain
Sep 08, 2022
One NBFC surrender its Certificate of Registration to RBI
The following Non-Banking Financial Company (NBFC) has surrendered the Certificate of Registration (CoR) granted to it by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled its CoR. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Tab Capital Private Limited SH-05, Building No.23A, Tulsi Co. Housing S
The following Non-Banking Financial Company (NBFC) has surrendered the Certificate of Registration (CoR) granted to it by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled its CoR. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Tab Capital Private Limited SH-05, Building No.23A, Tulsi Co. Housing S
Sep 08, 2022
RBI cancels Certificate of Registration of One NBFC
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 company. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 ET Devassy and Sons Finance Private Limited Building No. 1/261, Palayamparambu P.O., Thrissur, Kerala - 680741 B-16.00090 September 15, 2010 August 05, 2022 As such, the
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 company. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 ET Devassy and Sons Finance Private Limited Building No. 1/261, Palayamparambu P.O., Thrissur, Kerala - 680741 B-16.00090 September 15, 2010 August 05, 2022 As such, the
Aug 12, 2022
Outsourcing of Financial Services - Responsibilities of regulated entities employing Recovery Agents
The Reserve Bank of India has been addressing the issues relating to recovery agents (RAs) engaged by the Regulated Entities (REs), viz., Scheduled Commercial Banks, Non-Banking Financial Companies, etc., and the methods and practices being followed by these agents while undertaking loan recovery activities. The Reserve Bank of India, as part of guidelines on Fair Practices Code (FPC), has already advised REs that they should not resort to intimidation or harassment o
The Reserve Bank of India has been addressing the issues relating to recovery agents (RAs) engaged by the Regulated Entities (REs), viz., Scheduled Commercial Banks, Non-Banking Financial Companies, etc., and the methods and practices being followed by these agents while undertaking loan recovery activities. The Reserve Bank of India, as part of guidelines on Fair Practices Code (FPC), has already advised REs that they should not resort to intimidation or harassment o
Aug 08, 2022
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 CoR No. CoR Issued On Cancellation Order Date 1 Alarming Finvest Private Limited 1214, 12th Floor, 38, Ansal Tower, Nehru Place, Delhi - 110019 B-14.02148 December 06, 2000 July 04, 2022 2 Achal Finance Limited 280/
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 CoR No. CoR Issued On Cancellation Order Date 1 Alarming Finvest Private Limited 1214, 12th Floor, 38, Ansal Tower, Nehru Place, Delhi - 110019 B-14.02148 December 06, 2000 July 04, 2022 2 Achal Finance Limited 280/
Aug 08, 2022
Four Non-Banking Financial Companies surrender their Certificate of Registration to Reserve Bank of India
The following Four Non-Banking Financial Companies (NBFCs) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Chettinad Financial Management Services Private Limited Ra
The following Four Non-Banking Financial Companies (NBFCs) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Cancellation Order Date 1 Chettinad Financial Management Services Private Limited Ra
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