Press Releases - Regulating Non-Banking - RBI - Reserve Bank of India
Press Releases
Jul 19, 1999
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 July 15, 1999 the application for Certificate of Registration submitted by M/s. Jagpriya Finance & Investment Ltd., a Non-Banking Financial Company having its Registered Office at B-207, II Floor, Manpasand Complex, Bapunagar, Ahmedabad.As such, the company cannot transact the business of a Non-Banking Financial Instituti
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 July 15, 1999 the application for Certificate of Registration submitted by M/s. Jagpriya Finance & Investment Ltd., a Non-Banking Financial Company having its Registered Office at B-207, II Floor, Manpasand Complex, Bapunagar, Ahmedabad.As such, the company cannot transact the business of a Non-Banking Financial Instituti
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Jul 19, 1999
35 non-banking entities permitted to undertake ready forward transactions
The Government of India has issued a notification permitting 35 non-banking entities, to undertake ready forward transactions in notified government securities with other entities for this purpose. The non-banking entities include primary dealers, dedicated gilt funds, mutual funds, insurance companies and some financial institutions.It may be recalled that to improve the transmission mechanism of monetary policy and to further develop the money and debt markets in th
The Government of India has issued a notification permitting 35 non-banking entities, to undertake ready forward transactions in notified government securities with other entities for this purpose. The non-banking entities include primary dealers, dedicated gilt funds, mutual funds, insurance companies and some financial institutions.It may be recalled that to improve the transmission mechanism of monetary policy and to further develop the money and debt markets in th
Jul 19, 1999
RBI prohibits Ajmani Leasing & Finance Ltd. from accepting deposits
The Reserve Bank of India in exercise of the powers, conferred on it under Section 45K read with Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Ajmani Leasing & Finance Ltd., Bus Station Road, Lakhimpur Kheri (U.P.) from accepting deposits with effect from July 19, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it under Section 45MB(2) of the Reserve Bank of India Ac
The Reserve Bank of India in exercise of the powers, conferred on it under Section 45K read with Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Ajmani Leasing & Finance Ltd., Bus Station Road, Lakhimpur Kheri (U.P.) from accepting deposits with effect from July 19, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it under Section 45MB(2) of the Reserve Bank of India Ac
Jul 16, 1999
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on in under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on July 15, 1999 the application for certificate of registration submitted by the financial company M/s. Nikhil Jyoti Finance & Investment (India) Ltd., Opp. Balram Talkies, Nehru Nagar Road, Bilaspur-495 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (
The Reserve Bank of India, in exercise of the powers conferred on in under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on July 15, 1999 the application for certificate of registration submitted by the financial company M/s. Nikhil Jyoti Finance & Investment (India) Ltd., Opp. Balram Talkies, Nehru Nagar Road, Bilaspur-495 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (
Jul 14, 1999
RBI prohibits Galaxy Growfin Ltd. from accepting deposits
It is hereby notified for the information of the public that the Reserve Bank of India in exercise of the powers, conferred on it under Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Galaxy Growfin Ltd., B.12/112-1, Gauriganj Bhelupura, Varanasi (U.P.) from accepting deposits with effect from July 14, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it under Section 45MB(2
It is hereby notified for the information of the public that the Reserve Bank of India in exercise of the powers, conferred on it under Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Galaxy Growfin Ltd., B.12/112-1, Gauriganj Bhelupura, Varanasi (U.P.) from accepting deposits with effect from July 14, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it under Section 45MB(2
Jul 13, 1999
Application for grant of Certificate of Registration rejected
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 the applications for grant of certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. The Panchali Finance Company Pvt. Ltd., Station Gurudwara Road, Gaya-823 00210.7.19992.The Polyactive Finance India Ltd., Madhaul Bhawan, M.P. Colony, Station Road, Hajipur.10.7.19993.T
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 the applications for grant of certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. The Panchali Finance Company Pvt. Ltd., Station Gurudwara Road, Gaya-823 00210.7.19992.The Polyactive Finance India Ltd., Madhaul Bhawan, M.P. Colony, Station Road, Hajipur.10.7.19993.T
Jul 12, 1999
Application for grant of Certificate of Registration rejected
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 the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. M/s. Feasible Finance & Investment Company (I) Ltd., Vill Naraina, P.O.Sakaldiha, Chandauli, Varanasi-232 104 (U.P.)12.7.1999 2.M/s. Cobra Housing Finance & Leasing Co. 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 rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. M/s. Feasible Finance & Investment Company (I) Ltd., Vill Naraina, P.O.Sakaldiha, Chandauli, Varanasi-232 104 (U.P.)12.7.1999 2.M/s. Cobra Housing Finance & Leasing Co. Ltd.,
Jul 12, 1999
Application for grant of Certificate of Registration rejected
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 the applications for grant of certificates of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. M/s. Lokasha Finance & Investment Ltd., 405, Kailash Complex II, Near Jain Derasar, Navrangpura, Ahmedabad-380 009.10.7.1999 2.M/s. Vraj Finance Ltd., 101, Bhagtani Bhavan, Plot N
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 the applications for grant of certificates of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. M/s. Lokasha Finance & Investment Ltd., 405, Kailash Complex II, Near Jain Derasar, Navrangpura, Ahmedabad-380 009.10.7.1999 2.M/s. Vraj Finance Ltd., 101, Bhagtani Bhavan, Plot N
Jul 12, 1999
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on in under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on July 10, 1999 the application for certificate of registration submitted by the financial company The Jibanbikash General Finance & Investment (I) Ltd., Madhupatna, Cuttack.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I of the Reserve
The Reserve Bank of India, in exercise of the powers conferred on in under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on July 10, 1999 the application for certificate of registration submitted by the financial company The Jibanbikash General Finance & Investment (I) Ltd., Madhupatna, Cuttack.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I of the Reserve
Jul 06, 1999
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 July 5, 1999, the application for Certificate of Registration submitted by the financial company M/s. P.G. Finance & Investment (I) Pvt. Ltd., 8, Old Post Office Street, Calcutta-700 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I
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 July 5, 1999, the application for Certificate of Registration submitted by the financial company M/s. P.G. Finance & Investment (I) Pvt. Ltd., 8, Old Post Office Street, Calcutta-700 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I
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