The Reserve Bank of India, in exercise of the powers conferred on it under Section 45IA of the Reserve Bank of India Act, 1934, has rejected on February 17, 2000, the application for Certificate of Registration submitted by The Kisholaya Small Investments (India) Ltd., having its Registered office at 54/171, Rabindra Avenue, P.O. & District - Malda, Pin-732 101.

As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45IA of the Reserve Bank of India Act, 1934.