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Dec 02, 2024
Removal of supervisory restrictions: Navi Finserv Limited, Bengaluru

On October 17, 2024, the Reserve Bank of India had, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to Navi Finserv Limited, Bengaluru (and three other NBFCs), to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024.

On October 17, 2024, the Reserve Bank of India had, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to Navi Finserv Limited, Bengaluru (and three other NBFCs), to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024.

Nov 26, 2024
RBI cancels Certificate of Registration of two NBFCs

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 Ulhas Securities Private Limited Q-202, Coral, Parshwanath Atlantis Park, Near Balaji Agora Mall, S.P. Ring Road, Gandhinagar, Gujarat - 382424 N.01.00462 December 08, 2003 September 24, 2024 2 Sikar Investment Co Ltd Shri Ramji Sadan, 30-B, New Civil Lines, Bharatpur City, Bharatpur, Rajasthan -321001 10.00029 March 06, 1998 October 07, 2024 As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934. 

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 Ulhas Securities Private Limited Q-202, Coral, Parshwanath Atlantis Park, Near Balaji Agora Mall, S.P. Ring Road, Gandhinagar, Gujarat - 382424 N.01.00462 December 08, 2003 September 24, 2024 2 Sikar Investment Co Ltd Shri Ramji Sadan, 30-B, New Civil Lines, Bharatpur City, Bharatpur, Rajasthan -321001 10.00029 March 06, 1998 October 07, 2024 As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934. 

Nov 26, 2024
Six NBFCs surrender their Certificate of Registration to RBI

The following Six 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 following Six 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.

Oct 17, 2024
Action against select NBFCs including NBFCs-MFIs

The Reserve Bank of India has today, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to the following NBFCs to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024:

The Reserve Bank of India has today, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to the following NBFCs to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024:

Oct 16, 2024
RBI cancels Certificate of Registration of Two NBFCs

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 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.

Oct 16, 2024
Seven NBFCs surrender their Certificate of Registration to RBI

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.

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.

Sep 13, 2024
RBI cancels Certificate of Registration of Four NBFCs

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 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.

Sep 13, 2024
13 NBFCs surrender their Certificate of Registration to RBI

The following 13 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 following 13 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.

Aug 29, 2024
RBI cautions against Fraudulent Activities in its name

    It has come to the notice of the Reserve Bank of India that unscrupulous elements are using various methods to defraud members of the public by using the name of RBI in some capacity. A brief on various modus operandi employed by such fraudsters is as below

    It has come to the notice of the Reserve Bank of India that unscrupulous elements are using various methods to defraud members of the public by using the name of RBI in some capacity. A brief on various modus operandi employed by such fraudsters is as below

Aug 23, 2024
RBI cancels Certificate of Registration of M/s Margdarshak Financial Services Limited

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): Name of the NBFC Registered Office Address CoR No. & Date Date of Cancellation Margdarshak Financial Services Limited 118, Dayal Farms, Ganeshpur - Rehmanpur, Chinhat-Deva Road, Lucknow, Uttar Pradesh – 226019 B-12.00364 dated March 22, 2011 August 20, 2024

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): Name of the NBFC Registered Office Address CoR No. & Date Date of Cancellation Margdarshak Financial Services Limited 118, Dayal Farms, Ganeshpur - Rehmanpur, Chinhat-Deva Road, Lucknow, Uttar Pradesh – 226019 B-12.00364 dated March 22, 2011 August 20, 2024

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