Press Releases - Regulating Non-Banking - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਜਨ 06, 2004
RBI issues KYC Guidelines for NBFCs
The Reserve Bank of India today issued Know Your Customer (KYC) guidelines for non-banking financial companies (NBFCs). The guidelines are akin to those already advised to commercial banks. The boards of directors of the NBFCs have been advised to formulate policies and procedures to operationalise and ensure the observance of these guidelines in respect of all new customers. The NBFCs have also been advised to complete the identification process in respect of the exi
The Reserve Bank of India today issued Know Your Customer (KYC) guidelines for non-banking financial companies (NBFCs). The guidelines are akin to those already advised to commercial banks. The boards of directors of the NBFCs have been advised to formulate policies and procedures to operationalise and ensure the observance of these guidelines in respect of all new customers. The NBFCs have also been advised to complete the identification process in respect of the exi
ਪੀਡੀਐਫ (
ਜਨ 03, 2004
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on December 29, 2003 the application for certificate of registration submitted by Monica Growth Fund Private Limited, 105, Ashoka Estate, 24, Barakhamba Road, New Delhi for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial institutio
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on December 29, 2003 the application for certificate of registration submitted by Monica Growth Fund Private Limited, 105, Ashoka Estate, 24, Barakhamba Road, New Delhi for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial institutio
ਦਸੰ 26, 2003
Reserve Bank Cancels Certificate of Registration of Apple Credit Corporation Limited, Chennai
The Reserve Bank of India, has on December 12, 2003 cancelled the certificate of registration issued to Apple Credit Corporation Limited having its registered office at Gokul Arcade, 1st Floor, 2, Sardar Patel Road, Adyar, Chennai-600 020 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of non-banking financial institution. Following cancellation of registration certificate, Apple Credit Corporation
The Reserve Bank of India, has on December 12, 2003 cancelled the certificate of registration issued to Apple Credit Corporation Limited having its registered office at Gokul Arcade, 1st Floor, 2, Sardar Patel Road, Adyar, Chennai-600 020 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of non-banking financial institution. Following cancellation of registration certificate, Apple Credit Corporation
ਦਸੰ 23, 2003
Reserve Bank Cancels Certificate of Registration of Hindustan Auto Finance Limited, New Delhi
The Reserve Bank of India, has on December 12, 2003 cancelled the certificate of registration issued to Hindustan Auto Finance Limited having its registered office at Delhi Blue Apartments, Safdarjung Road. New Delhi-110 029 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Hindustan Auto Finance Limited cannot transact the business of a non-banking financial institution.The Company has also been p
The Reserve Bank of India, has on December 12, 2003 cancelled the certificate of registration issued to Hindustan Auto Finance Limited having its registered office at Delhi Blue Apartments, Safdarjung Road. New Delhi-110 029 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Hindustan Auto Finance Limited cannot transact the business of a non-banking financial institution.The Company has also been p
ਦਸੰ 16, 2003
Reserve Bank Cancels Certificate of Registration of A.M. Financial Services Limited, Amritsar
The Reserve Bank of India, has on November 21, 2003 cancelled the certificate of registration issued to A. M. Financial Services Limited having its registered office at 271/3, Kucha Kashmirian, Near Jalianwala Bagh, Amritsar-143 006 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, A. M. Financial Services Limited cannot transact the business of a non-banking financial institution.However, the comp
The Reserve Bank of India, has on November 21, 2003 cancelled the certificate of registration issued to A. M. Financial Services Limited having its registered office at 271/3, Kucha Kashmirian, Near Jalianwala Bagh, Amritsar-143 006 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, A. M. Financial Services Limited cannot transact the business of a non-banking financial institution.However, the comp
ਦਸੰ 15, 2003
Reserve Bank Cancels Certificate of Registration of Namdhari Leasing Limited, New Delhi
The Reserve Bank of India, has on December 11, 2003 cancelled the certificate of registration issued to Namdhari Leasing Limited having its registered office at 15 A/14, WEA, Karol Bagh, New Delhi-110 005 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Namdhari Leasing Limited cannot transact the business of a non-banking financial institution.The Company has also been prohibited from acceptance
The Reserve Bank of India, has on December 11, 2003 cancelled the certificate of registration issued to Namdhari Leasing Limited having its registered office at 15 A/14, WEA, Karol Bagh, New Delhi-110 005 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Namdhari Leasing Limited cannot transact the business of a non-banking financial institution.The Company has also been prohibited from acceptance
ਦਸੰ 09, 2003
Application for Certificate of Registration rejected- Aspective Vanijya Private Limited, Kolkata
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45-IA of the Reserve Bank of India Act, 1934, has rejected on December 4, 2003 the application for certificate of registration submitted by Aspective Vanijya Private Limited, 1A, Grant Lane, 2nd Floor, Kokata-700 012 to carry on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial institution as defined in
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45-IA of the Reserve Bank of India Act, 1934, has rejected on December 4, 2003 the application for certificate of registration submitted by Aspective Vanijya Private Limited, 1A, Grant Lane, 2nd Floor, Kokata-700 012 to carry on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial institution as defined in
ਦਸੰ 05, 2003
Reserve Bank Cancels Certificate of Registration of Crystal Capital Corporation Limited, Aliganj, Lucknow
The Reserve Bank of India, has on November 28, 2003 cancelled the certificate of registration granted to Crystal Capital Corporation Limited having its registered office at Pratap Computer Complex, 27/3, Chandralok, Kapoorthala Road, Aliganj, Lucknow, Uttar Pradesh for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Crystal Capital Corporation Limited cannot transact the business of a non-banking fin
The Reserve Bank of India, has on November 28, 2003 cancelled the certificate of registration granted to Crystal Capital Corporation Limited having its registered office at Pratap Computer Complex, 27/3, Chandralok, Kapoorthala Road, Aliganj, Lucknow, Uttar Pradesh for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Crystal Capital Corporation Limited cannot transact the business of a non-banking fin
ਨਵੰ 28, 2003
Certificate of Registration cancelled - Kalpavrikasha Industries Ltd. (formerly Orchaltree Leasing & Financing Ltd.)
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45-IA of the Reserve Bank of India Act, 1934, has cancelled on November 13, 2003 the certificate of registration issued to Kalpavriksha Industries Ltd. (formerly Orchaltree Leasing & Financing Ltd.), Bombay Cotton Mill Compound, Dattaram Lad Path (Kalachowkly Road), Mumbai-400 033 subsequently changed its address to 703, Dharmanand Tower, Opp. Prabhat Cinema, Bhander Ali, Thane (W)-
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45-IA of the Reserve Bank of India Act, 1934, has cancelled on November 13, 2003 the certificate of registration issued to Kalpavriksha Industries Ltd. (formerly Orchaltree Leasing & Financing Ltd.), Bombay Cotton Mill Compound, Dattaram Lad Path (Kalachowkly Road), Mumbai-400 033 subsequently changed its address to 703, Dharmanand Tower, Opp. Prabhat Cinema, Bhander Ali, Thane (W)-
ਨਵੰ 20, 2003
Reserve Bank cancels the Certificate of Registration of TCI Securities Limited, Secunderabad
The Reserve Bank of India has cancelled on October 31, 2003, the certificate of registration issued to TCI Securities Limited, a Non-Banking Financial Company having its head office at 1-7-293, M. G. Road, Secunderabad-500 026 as the company has opted to exit from the business of Non-Banking Financial Institution pursuant to its amalgamation with TCI Finance Limited, Secunderabad. The Reserve Bank of India has cancelled the certificate in exercise of the powers confer
The Reserve Bank of India has cancelled on October 31, 2003, the certificate of registration issued to TCI Securities Limited, a Non-Banking Financial Company having its head office at 1-7-293, M. G. Road, Secunderabad-500 026 as the company has opted to exit from the business of Non-Banking Financial Institution pursuant to its amalgamation with TCI Finance Limited, Secunderabad. The Reserve Bank of India has cancelled the certificate in exercise of the powers confer
ਨਵੰ 15, 2003
RBI rejects application for Certificate of Registration of Better Deals Developers Private Limited
The Reserve Bank of India, has on November 5, 2003 rejected the application for certificate of registration submitted by Better Deals Developers Private Limited, 11, Middleton Row, New Asiatic Mansion, Flat No.7, Kolkata-700071 for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Better Deals Developers Private Limited cannot transact the business of a non-banking financial institution
The Reserve Bank of India, has on November 5, 2003 rejected the application for certificate of registration submitted by Better Deals Developers Private Limited, 11, Middleton Row, New Asiatic Mansion, Flat No.7, Kolkata-700071 for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Better Deals Developers Private Limited cannot transact the business of a non-banking financial institution
ਨਵੰ 07, 2003
RBI rejects application for Certificate of Registration of Bubby's Commerce Private Limited
The Reserve Bank of India, has on October 31, 2003 rejected the application for certificate of registration submitted by Bubby's Commerce Private Limited having its office at D-75, Bangur Avenue, 3rd Floor, Kolkata-700 055 for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Bubby's Commerce Private Limited cannot transact the business of a non-banking financial institution. The Reserv
The Reserve Bank of India, has on October 31, 2003 rejected the application for certificate of registration submitted by Bubby's Commerce Private Limited having its office at D-75, Bangur Avenue, 3rd Floor, Kolkata-700 055 for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Bubby's Commerce Private Limited cannot transact the business of a non-banking financial institution. The Reserv
ਨਵੰ 03, 2003
Reserve Bank rejects application for Certificate of Registration of Sthapati Credit Limited
The Reserve Bank of India, has on October 28, 2003 rejected the application for certificate of registration submitted by Sthapati Credit Limited having its office at 203-B, 2nd Floor, Ivory Terrace, R. C. Dutt Road, Baroda for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Sthapati Credit Limited can not transact the business of a non-banking financial institution. The Reserve Bank o
The Reserve Bank of India, has on October 28, 2003 rejected the application for certificate of registration submitted by Sthapati Credit Limited having its office at 203-B, 2nd Floor, Ivory Terrace, R. C. Dutt Road, Baroda for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Sthapati Credit Limited can not transact the business of a non-banking financial institution. The Reserve Bank o
ਅਕਤੂ 01, 2003
RBI Cancels registration certificate of
Vasavi Financial Services Limited, Hyderabad as `surrendered'
Vasavi Financial Services Limited, Hyderabad as `surrendered'
The Reserve Bank of India has cancelled as surrendered on September 24, 2003 the registration certificate of Vasavi Financial Services Limited, 505, Topaz Complex, 6-3-883, Panjagutta, Hyderabad-500 082 to carry on the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1). The Reserve Bank has cancelled the registration certificate of the above company under Section 45-1A (6
The Reserve Bank of India has cancelled as surrendered on September 24, 2003 the registration certificate of Vasavi Financial Services Limited, 505, Topaz Complex, 6-3-883, Panjagutta, Hyderabad-500 082 to carry on the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1). The Reserve Bank has cancelled the registration certificate of the above company under Section 45-1A (6
ਸਤੰ 29, 2003
Reserve Bank rejects application for Certificate of Registration of
J. L. Growth Fund Private Limited
J. L. Growth Fund Private Limited
The Reserve Bank of India, has on September 25, 2003 rejected the application for certificate of registration submitted by J. L. Growth Fund Private Limited having its office at 105, Ashoka Estate, 24, Barakhamba Road, New Delhi for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, J. L. Growth Fund Private Limited can not transact the business of a non-banking financial institution. Th
The Reserve Bank of India, has on September 25, 2003 rejected the application for certificate of registration submitted by J. L. Growth Fund Private Limited having its office at 105, Ashoka Estate, 24, Barakhamba Road, New Delhi for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, J. L. Growth Fund Private Limited can not transact the business of a non-banking financial institution. Th
ਸਤੰ 17, 2003
Ceiling on Interest Rate on NRE Deposits with NBFCs
The Reserve Bank of India has stated that the rate of interest on Non-Resident External (NRE) deposits taken by non-banking finance companies (NBFCs) should be the same as applicable to scheduled commercial banks i.e. not exceeding 100 basis points above the LIBOR/SWAP rates for US dollar deposits. Other terms and conditions contained in Notification No.FEMA 5/2000-RB dated May 3, 2003 remain unchanged. It may be recalled that the banks have already been directed on S
The Reserve Bank of India has stated that the rate of interest on Non-Resident External (NRE) deposits taken by non-banking finance companies (NBFCs) should be the same as applicable to scheduled commercial banks i.e. not exceeding 100 basis points above the LIBOR/SWAP rates for US dollar deposits. Other terms and conditions contained in Notification No.FEMA 5/2000-RB dated May 3, 2003 remain unchanged. It may be recalled that the banks have already been directed on S
ਸਤੰ 12, 2003
Reserve Bank Cancels Certificate of Registration of Abhay Investments Pvt. Ltd., Secundrabad
The Reserve Bank of India, has on September 8, 2003 cancelled the certificate of registration granted to Abhay Investments Private Limited having its registered office at 144, A. P. T. B. Colony Karkhana, Secundrabad, Andhra Pradesh-500 009, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Abhay Investments Private Limited cannot transact the business of a non-banking financial institution. Under
The Reserve Bank of India, has on September 8, 2003 cancelled the certificate of registration granted to Abhay Investments Private Limited having its registered office at 144, A. P. T. B. Colony Karkhana, Secundrabad, Andhra Pradesh-500 009, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Abhay Investments Private Limited cannot transact the business of a non-banking financial institution. Under
ਸਤੰ 09, 2003
Reserve Bank Cancels Certificate of Registration of Abhyudaya Investments Pvt. Ltd., Secundrabad
The Reserve Bank of India, has on September 2, 2003 cancelled the certificate of registration granted to Abhyudaya Investments Private Limited having its registered office at 144, A. P. T. B. Colony Karkhana, Secundrabad, Andhra Pradesh-500 009, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Abhyudaya Investments Private Limited cannot transact the business of a non-banking financial institution
The Reserve Bank of India, has on September 2, 2003 cancelled the certificate of registration granted to Abhyudaya Investments Private Limited having its registered office at 144, A. P. T. B. Colony Karkhana, Secundrabad, Andhra Pradesh-500 009, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Abhyudaya Investments Private Limited cannot transact the business of a non-banking financial institution
ਸਤੰ 03, 2003
Reserve Bank Cancels Certificate of Registration of BCL Financial Services Ltd., Kolkata
The Reserve Bank of India, has on August 30, 2003 cancelled the certificate of registration granted to BCL Financial Services Limited having its registered office at 1/1, Camac Street, 3rd Floor, Kolkata-700 016 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, BCL Financial Services Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited fr
The Reserve Bank of India, has on August 30, 2003 cancelled the certificate of registration granted to BCL Financial Services Limited having its registered office at 1/1, Camac Street, 3rd Floor, Kolkata-700 016 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, BCL Financial Services Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited fr
ਸਤੰ 03, 2003
Reserve Bank Cancels Certificate of Registration of Ramya Sai Investment and Finance Limited, Nandyal
The Reserve Bank of India, has on August 27, 2003 cancelled the certificate of registration granted to Ramya Sai Investment and Finance Limited having its registered office at 25/436 opposite Sanjeevanagar Gate, Nandyal, Andhra Pradesh-518 001, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, to Ramya Sai Investment and Finance Limited cannot transact the business of a non-banking financial instit
The Reserve Bank of India, has on August 27, 2003 cancelled the certificate of registration granted to Ramya Sai Investment and Finance Limited having its registered office at 25/436 opposite Sanjeevanagar Gate, Nandyal, Andhra Pradesh-518 001, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, to Ramya Sai Investment and Finance Limited cannot transact the business of a non-banking financial instit
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