RBI cancels Certificate of Registration of X10 Financial Services Limited due to irregular lending practices - ஆர்பிஐ - Reserve Bank of India
RBI cancels Certificate of Registration of X10 Financial Services Limited due to irregular lending practices
| In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC):
As such, the above company shall not, hereinafter, transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934. The CoR has been cancelled by RBI as the company has violated RBI guidelines on code of conduct in outsourcing of financial services in its digital lending operations by outsourcing its core decision-making functions such as credit appraisal, fixing of rate of interest as well as Know Your Customer (KYC) verification, to the Service Provider (SP) and failed to conduct due diligence on the SPs. (Puneet Pancholy) Press Release: 2024-2025/1967 |
இந்த பக்கத்தை பகிரவும்:
இந்திய ரிசர்வ் வங்கி மொபைல் செயலியை நிறுவுங்கள் மற்றும் சமீபத்திய செய்திகளுக்கான விரைவான அணுகலை பெறுங்கள்!
