The Reserve Bank of India has today issued the Master Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024. The Directions have come into effect immediately.

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.

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.

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 Nimisha Finance India Private Limited B 1/7, Sector 1, Jankipuram Extension, Lucknow, Uttar Pradesh – 226021 B-12.00291 March 29, 2001 February 08, 2024 2 R.M.B. Finance Company Limited Rajni Complex, 3rd Floor, Khagaul Road, Mithapur, Patna Sadar, Bihar - 800001 B-15.00036 November 08, 2001 February 14, 2024

The following seven 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.