The Reserve Bank of India has on January 30, 2008 cancelled the certificate of registration granted to Shree Parusram Ji Hire Purchase Company Limited having its registered office at Soron Gate, Kasganj, District Etah (U.P.) for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, Shree Parusram Ji Hire Purchase Company Limited cannot transact the business of a non-banking financial institution.

In exercise of 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 institution. 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.

Ajit Prasad
Manager

Press Release : 2007-2008/1120