Press Releases - Regulating Non-Banking - RBI - Reserve Bank of India
Press Releases
Sep 09, 2004
Reserve Bank Cancels Certificate of Registration of M/s. Dalia Securities Limited, Hyderabad
The Reserve Bank of India, has on September 7, 2004 cancelled the certificate of registration granted to M/s. Dalia Securities Limited, having its registered office at 4-7-1103, Esamia Bazar, Hyderabad-500 027 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. Dalia Securities Limited, cannot transact the business of a non-banking financial institution.Under powers conferred by Section 45IA of
The Reserve Bank of India, has on September 7, 2004 cancelled the certificate of registration granted to M/s. Dalia Securities Limited, having its registered office at 4-7-1103, Esamia Bazar, Hyderabad-500 027 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. Dalia Securities Limited, cannot transact the business of a non-banking financial institution.Under powers conferred by Section 45IA of
PDF (
Sep 08, 2004
Reserve Bank Cancels Certificate of Registration of Baba Farid Investment Private Limited, Kotkapura
September 8, 2004 The Reserve Bank of India, has on August 18, 2004 cancelled the certificate of registration granted to Baba Farid Investment Limited, having its registered office at Dwareana Road, Kotkapura, District Faridkot for carrying on the business of a non-banking financial institution as the company opted to exit from the business of non-banking financial institution. Following cancellation of registration certificate, Baba Farid Investment Limited cannot tr
September 8, 2004 The Reserve Bank of India, has on August 18, 2004 cancelled the certificate of registration granted to Baba Farid Investment Limited, having its registered office at Dwareana Road, Kotkapura, District Faridkot for carrying on the business of a non-banking financial institution as the company opted to exit from the business of non-banking financial institution. Following cancellation of registration certificate, Baba Farid Investment Limited cannot tr
Sep 08, 2004
Reserve Bank Cancels Certificate of Registration of M/s. Chillakuru Investments Private Limited, Hyderabad
September 8, 2004 The Reserve Bank of India, has on September 1, 2004 cancelled the certificate of registration granted to M/s. Chillakuru Investments Private Limited having its registered office 6-3-348, Salopoia, Dwarakapuri Colony, Punjagutta, Hyderabad-500 082 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. Chillakuru Investments Private Limited cannot transact the business of a non-bank
September 8, 2004 The Reserve Bank of India, has on September 1, 2004 cancelled the certificate of registration granted to M/s. Chillakuru Investments Private Limited having its registered office 6-3-348, Salopoia, Dwarakapuri Colony, Punjagutta, Hyderabad-500 082 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. Chillakuru Investments Private Limited cannot transact the business of a non-bank
Sep 08, 2004
Reserve Bank Cancels Certificate of Registration of Dani Finlease Limited
September 8, 2004 The Reserve Bank of India, has on August 19, 2004 cancelled the certificate of registration granted to Dani Finlease Limited, Mumbai, having its registered office at 4B Barodawala Mansion, 81 Dr. Annie Besant Road, Worli, Mumbai-400 018 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Dani Finlease Limited cannot transact the business of a non-banking financial institution. The c
September 8, 2004 The Reserve Bank of India, has on August 19, 2004 cancelled the certificate of registration granted to Dani Finlease Limited, Mumbai, having its registered office at 4B Barodawala Mansion, 81 Dr. Annie Besant Road, Worli, Mumbai-400 018 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Dani Finlease Limited cannot transact the business of a non-banking financial institution. The c
Sep 01, 2004
Reserve Bank rejects application for certificate of registration of Madras Credit and Investments Limited
The Reserve Bank of India, has on August 23, 2004 cancelled the certificate of registration issued to Madras Credit and Investments Limited having its office at Flat No.115, Block-A, First Floor, Shivalaya Building, No.196, Ethiraj Salai, Old No.16 (26), Commander in Chief Road, Egmore, Chennai-600 105 Following cancellation of certificate of registration, the Madras Credit and Investments Limited can not transact the business of a non-banking financial institution. T
The Reserve Bank of India, has on August 23, 2004 cancelled the certificate of registration issued to Madras Credit and Investments Limited having its office at Flat No.115, Block-A, First Floor, Shivalaya Building, No.196, Ethiraj Salai, Old No.16 (26), Commander in Chief Road, Egmore, Chennai-600 105 Following cancellation of certificate of registration, the Madras Credit and Investments Limited can not transact the business of a non-banking financial institution. T
Aug 31, 2004
Reserve Bank rejects application for certificate of registration of M/s. MSL Management Consultants & Services Limited
The Reserve Bank of India, has on August 27, 2004 rejected the application for certificate of registration submitted by M/s. MSL Management Consultants & Services Limited having its office at F-101, Plot No.66, Parkview Enclave, Manovikasnagar, Secunderabad-500 009.Following rejection of application for certificate of registration, M/s. MSL Management Consultants & Services Limited can not transact the business of a non-banking financial institution. The Reser
The Reserve Bank of India, has on August 27, 2004 rejected the application for certificate of registration submitted by M/s. MSL Management Consultants & Services Limited having its office at F-101, Plot No.66, Parkview Enclave, Manovikasnagar, Secunderabad-500 009.Following rejection of application for certificate of registration, M/s. MSL Management Consultants & Services Limited can not transact the business of a non-banking financial institution. The Reser
Aug 16, 2004
Reserve Bank Rejects application for certificate of registration of M/s. Parleshwar Finance and Investment Services Private Ltd.
The Reserve Bank of India, has on June 28, 2004 rejected the application for certificate of registration submitted by M/s. Parleshwar Finance and Investment Services Private Ltd. having its office at 3, Waman, First Floor, Opp. Parleshwar Mandir, M. G. Road, Vile Parle (East), Mumbai 400057 for carrying on the business of a non-banking financial institution.Following rejection of application for certificate of registration,M/s. Parleshwar Finance and Investment Servic
The Reserve Bank of India, has on June 28, 2004 rejected the application for certificate of registration submitted by M/s. Parleshwar Finance and Investment Services Private Ltd. having its office at 3, Waman, First Floor, Opp. Parleshwar Mandir, M. G. Road, Vile Parle (East), Mumbai 400057 for carrying on the business of a non-banking financial institution.Following rejection of application for certificate of registration,M/s. Parleshwar Finance and Investment Servic
Aug 03, 2004
Reserve Bank Cancels Certificate of Registration of Kant Finance Private Limited, Secunderabad
The Reserve Bank of India, has on July 27, 2004 cancelled the certificate of registration issued to Kant Finance Private Limited, Secunderabad, having its registered office at Plot No.35, Samrat Colony, West Marredpally, Secunderabad-500026 for carrying on the business of a non-banking financial institution. Under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial c
The Reserve Bank of India, has on July 27, 2004 cancelled the certificate of registration issued to Kant Finance Private Limited, Secunderabad, having its registered office at Plot No.35, Samrat Colony, West Marredpally, Secunderabad-500026 for carrying on the business of a non-banking financial institution. Under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial c
Jul 23, 2004
Reserve Bank Cancels Certificate of Registration of Mont Blanc Financial Services Limited, Chennai
The Reserve Bank of India, has on July 14, 2004 cancelled the certificate of registration issued to Mont Blanc Financial Services Limited, having its registered office at 1st Floor, Abhinav Centre, No.4, Co-operative Colony, Off Chamiers Road, Chennai-600 018 for carrying on the business of a non-banking financial institution. Under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-
The Reserve Bank of India, has on July 14, 2004 cancelled the certificate of registration issued to Mont Blanc Financial Services Limited, having its registered office at 1st Floor, Abhinav Centre, No.4, Co-operative Colony, Off Chamiers Road, Chennai-600 018 for carrying on the business of a non-banking financial institution. Under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-
Jul 16, 2004
Reserve Bank Cancels Certificate of Registration of Mangal Pradeep Financial & Investment (India) Ltd., Bhubaneswar
July 16, 2004 The Reserve Bank of India, has on June 25, 2004 cancelled the certificate of registration issued to Mangal Pradeep Financial & Investment (India) Ltd., having its registered office at N-1/160, IRC village, Nayapalli, Bhubaneswar-751 015 for carrying on the business of a non-banking financial institution. However, the company is under an obligation to repay public deposits as per the terms of conditions of the contract of deposit. Under powers conferr
July 16, 2004 The Reserve Bank of India, has on June 25, 2004 cancelled the certificate of registration issued to Mangal Pradeep Financial & Investment (India) Ltd., having its registered office at N-1/160, IRC village, Nayapalli, Bhubaneswar-751 015 for carrying on the business of a non-banking financial institution. However, the company is under an obligation to repay public deposits as per the terms of conditions of the contract of deposit. Under powers conferr
Jun 22, 2004
RBI rationalises Investment Pattern for RNBCs
June 22, 2004The Reserve Bank of India (RBI) today announced rationalisation of the investment pattern prescribed for residuary non-banking companies (RNBCs) for imparting greater liquidity and safety to the investments of RNBCs and thus enhancing the protection available to the depositors. A summary of important changes in the present norms is given below: Presently the RNBCs are required to invest 80% of the aggregate liabilities to depositors (including investment
June 22, 2004The Reserve Bank of India (RBI) today announced rationalisation of the investment pattern prescribed for residuary non-banking companies (RNBCs) for imparting greater liquidity and safety to the investments of RNBCs and thus enhancing the protection available to the depositors. A summary of important changes in the present norms is given below: Presently the RNBCs are required to invest 80% of the aggregate liabilities to depositors (including investment
May 26, 2004
Reserve Bank Cancels Certificate of Registration of CFL Capital Financial Services Ltd., Kolkata
The Reserve Bank of India, has on May 18, 2004 cancelled the certificate of registration granted to CFL Capital Financial Services Ltd., having its registered office at Century Plaza, Room No.233, 2nd Floor, 81, Netaji Subhas Road, Kolkata-700 001 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, CFL Capital Financial Services Limited cannot transact the business of a non-banking financial institut
The Reserve Bank of India, has on May 18, 2004 cancelled the certificate of registration granted to CFL Capital Financial Services Ltd., having its registered office at Century Plaza, Room No.233, 2nd Floor, 81, Netaji Subhas Road, Kolkata-700 001 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, CFL Capital Financial Services Limited cannot transact the business of a non-banking financial institut
May 18, 2004
Reserve Bank Cancels Certificate of Registration of Investment Trust of India Limited, Chennai
The Reserve Bank of India, has on May 7, 2004 cancelled the certificate of registration issued to Investment Trust of India Limited having its registered office at Mashkur, 1, Krishnamachari Road, Nungambakkam, Chennai-600 034 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, Investment Trust of India Limited can
The Reserve Bank of India, has on May 7, 2004 cancelled the certificate of registration issued to Investment Trust of India Limited having its registered office at Mashkur, 1, Krishnamachari Road, Nungambakkam, Chennai-600 034 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, Investment Trust of India Limited can
May 08, 2004
RBI Cancels registration certificate of Vulcan Leasing and Investments Limited, Bangalore as `surrendered'
The Reserve Bank of India has cancelled as surrendered on April 20, 2004 the registration certificate of Vulcan Leasing and Investments Limited, No.29/30, II floor, SNS Plaza, 41, Kumarakrupa Road, Bangalore-660 001 to carry on the business of a non-banking financial institution as the company has opted to exit from the business of non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1). Th
The Reserve Bank of India has cancelled as surrendered on April 20, 2004 the registration certificate of Vulcan Leasing and Investments Limited, No.29/30, II floor, SNS Plaza, 41, Kumarakrupa Road, Bangalore-660 001 to carry on the business of a non-banking financial institution as the company has opted to exit from the business of non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1). Th
Apr 27, 2004
Reserve Bank Cancels Certificate of Registration of UP Instalments Limited, Bareilly
The Reserve Bank of India, has on March 18, 2004 cancelled the certificate of registration granted to UP Instalments Limited having its registered office 88-C, Civil Lines, Bareilly, Urrar Pradesh for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, UP Instalments Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposi
The Reserve Bank of India, has on March 18, 2004 cancelled the certificate of registration granted to UP Instalments Limited having its registered office 88-C, Civil Lines, Bareilly, Urrar Pradesh for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, UP Instalments Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposi
Apr 20, 2004
Interest rates on NRI deposits offered by NBFCs
The Reserve Bank of India today clarified that the rate of interest payable on fresh repatriable Non-Resident Indian (NRI) deposits accepted by all classes of Non-Banking Financial Companies (NBFCs) from the close of business on April 17, 2004 should not exceed LIBOR/SWAP rates for US dollar of corresponding maturity. The changes would also apply to the renewed repatriable NRI deposits after their present maturity period.It has also been clarified that other instructi
The Reserve Bank of India today clarified that the rate of interest payable on fresh repatriable Non-Resident Indian (NRI) deposits accepted by all classes of Non-Banking Financial Companies (NBFCs) from the close of business on April 17, 2004 should not exceed LIBOR/SWAP rates for US dollar of corresponding maturity. The changes would also apply to the renewed repatriable NRI deposits after their present maturity period.It has also been clarified that other instructi
Mar 27, 2004
Reserve Bank Cancels Certificate of Registration of Zuari Leasing and Finance Corporation Limited, Goa
The Reserve Bank of India, has cancelled the certificate of registration issued to Zuari Leasing and Finance Corporation Limited, Jai Kisaan Bhavan, Zuarinagar, Goa 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 pursuant to its amalgamation with M/s Zuari Industries Ltd., Goa. Under powers conferred by Section 45IA (6) of the Reserve Bank of India Act, 1934, th
The Reserve Bank of India, has cancelled the certificate of registration issued to Zuari Leasing and Finance Corporation Limited, Jai Kisaan Bhavan, Zuarinagar, Goa 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 pursuant to its amalgamation with M/s Zuari Industries Ltd., Goa. Under powers conferred by Section 45IA (6) of the Reserve Bank of India Act, 1934, th
Mar 08, 2004
RBI Cancels registration certificate of IIT Capital Services Ltd. as `surrendered'
The Reserve Bank of India has cancelled as surrendered on February 26, 2004, the certificate of registration issued to IIT Capital Services Limited having its registered office at Rajabahadur Mansion, 2nd Floor, 28, Bombay Samachar Marg, Mumbai 400 001 for carrying on the business of a non-banking financial institution.Following cancellation of registration certificate, IIT Capital Services Limited cannot transact the business of a non-banking financial institution. T
The Reserve Bank of India has cancelled as surrendered on February 26, 2004, the certificate of registration issued to IIT Capital Services Limited having its registered office at Rajabahadur Mansion, 2nd Floor, 28, Bombay Samachar Marg, Mumbai 400 001 for carrying on the business of a non-banking financial institution.Following cancellation of registration certificate, IIT Capital Services Limited cannot transact the business of a non-banking financial institution. T
Mar 06, 2004
Reserve Bank rejects application for certificate of registration of DCM Financial Services Limited
The Reserve Bank of India, has on March 5, 2004 rejected the application for certificate of registration submitted by DCM Financial Services Limited having its office at 75, Amrit Nagar, NDSE Part I, New Delhi-110 003 for carrying on the business of a non-banking financial institution.Following rejection of application for certificate of registration, DCM Financial Services Limited can not transact the business of a non-banking financial institution. The company has a
The Reserve Bank of India, has on March 5, 2004 rejected the application for certificate of registration submitted by DCM Financial Services Limited having its office at 75, Amrit Nagar, NDSE Part I, New Delhi-110 003 for carrying on the business of a non-banking financial institution.Following rejection of application for certificate of registration, DCM Financial Services Limited can not transact the business of a non-banking financial institution. The company has a
Feb 26, 2004
Reserve Bank rejects application for certificate of registration of U.V. Investment & Finance Private Limited, New Delhi
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 February 24, 2004 the application for certificate of registration submitted by U.V. Investment & Finance Private Limited, 204, Dwarkashish, Vikas Marg, Shakarpur, New Delhi-110092 for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking fi
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 February 24, 2004 the application for certificate of registration submitted by U.V. Investment & Finance Private Limited, 204, Dwarkashish, Vikas Marg, Shakarpur, New Delhi-110092 for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking fi
Feb 20, 2004
Reserve Bank rejects application for certificate of registration of Quick Investment (India) Limited, New Delhi
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 February 12, 2004 the application for certificate of registration submitted by Quick Investment (India) Limited, A-1, Maharani Bagh, 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 institution as defined in Clause
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 February 12, 2004 the application for certificate of registration submitted by Quick Investment (India) Limited, A-1, Maharani Bagh, 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 institution as defined in Clause
Feb 13, 2004
Reserve Bank Cancels Certificate of Registration of HICEL Leasing Limited, Hyderabad
The Reserve Bank of India, has cancelled the certificate of registration issued to HICEL Leasing Limited, 6-3-50, 1st Floor, Ganga Estates, Banjara Hills, Hyderabad 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, HICEL Leasing Limited cannot transact the business of a non-banking financial institution. The comp
The Reserve Bank of India, has cancelled the certificate of registration issued to HICEL Leasing Limited, 6-3-50, 1st Floor, Ganga Estates, Banjara Hills, Hyderabad 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, HICEL Leasing Limited cannot transact the business of a non-banking financial institution. The comp
Feb 12, 2004
Reserve Bank Rejects application for certificate of registration of Sun Aero Limited, New Delhi
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 February 5, 2004 the application for certificate of registration submitted by Sun Aero Limited, A-7, First Floor, Geetanjali Enclave, New Delhi-110 017 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 institution as defined 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 February 5, 2004 the application for certificate of registration submitted by Sun Aero Limited, A-7, First Floor, Geetanjali Enclave, New Delhi-110 017 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 institution as defined i
Feb 12, 2004
Reserve Bank Cancels Certificate of Registration of Syal Finlease Limited, New Delhi
The Reserve Bank of India, has on February 6, 2004 cancelled the certificate of registration granted to Syal Finlease Limited having its registered office at 10, Netaji Market, G. T. Road, Panipat-132 103 (Haryana), for carrying on the business of a non-banking financial institution.Following cancellation of registration certificate, Syal Finlease Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acc
The Reserve Bank of India, has on February 6, 2004 cancelled the certificate of registration granted to Syal Finlease Limited having its registered office at 10, Netaji Market, G. T. Road, Panipat-132 103 (Haryana), for carrying on the business of a non-banking financial institution.Following cancellation of registration certificate, Syal Finlease Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acc
Jan 19, 2004
Cancellation of the certificate of registration as 'surrendered'
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on January 6, 2004, the certificate of registration issued to Apple Finance Limited having its registered office at 11/13, Botawala Building, First Floor, Opp. Horniman Circle, Fort, Mumbai-400 023 for carrying on the business of a non-banking financial
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on January 6, 2004, the certificate of registration issued to Apple Finance Limited having its registered office at 11/13, Botawala Building, First Floor, Opp. Horniman Circle, Fort, Mumbai-400 023 for carrying on the business of a non-banking financial
Jan 15, 2004
Reserve Bank Rejects Application For Certificate of Registration of M/s. Lloyds Finance Limited
The Reserve Bank of India, has on January 13, 2004 rejected the application for certificate of registration submitted by M/s. Lloyds Finance Limited having its office at Unit No.3, Ground floor, Raheja Centre, Nariman Point, Mumbai 400 021 for carrying on the business of a non-banking financial institution.Following rejection of application for certificate of registration, M/s. Lloyds Finance Limited cannot transact the business of a non-banking financial institution.
The Reserve Bank of India, has on January 13, 2004 rejected the application for certificate of registration submitted by M/s. Lloyds Finance Limited having its office at Unit No.3, Ground floor, Raheja Centre, Nariman Point, Mumbai 400 021 for carrying on the business of a non-banking financial institution.Following rejection of application for certificate of registration, M/s. Lloyds Finance Limited cannot transact the business of a non-banking financial institution.
Jan 12, 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 Marvadi Investments Private Limited, Dr. Radhakrishnan Road, Near Kathiawar Gymkhana, Rajkot-360 001 for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financ
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 Marvadi Investments Private Limited, Dr. Radhakrishnan Road, Near Kathiawar Gymkhana, Rajkot-360 001 for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financ
Jan 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
Jan 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
Dec 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
Dec 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
Dec 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
Dec 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
Dec 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
Dec 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
Nov 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)-
Nov 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
Nov 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
Nov 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
Nov 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
Oct 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
Sep 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
Sep 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
Sep 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
Sep 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
Sep 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
Sep 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
Aug 22, 2003
Reserve Bank Cancels Certificate of Registration of Shrilekha Hire Purchase Finance Ltd., Secunderabad
The Reserve Bank of India, has on August 13, 2003 cancelled the certificate of registration granted to Shrilekha Hire Purchase Finance Limited having its registered office at No.10-3-56/4/1, Radhakrishna Street, East Marredpally, Secunderabad-500 026 for carrying on the business of a non-banking financial institution as the company has got amalgamated with Pioneer Overseas Finance, Pondicherry.. Following cancellation of registration certificate, Shrilekha Hire Purcha
The Reserve Bank of India, has on August 13, 2003 cancelled the certificate of registration granted to Shrilekha Hire Purchase Finance Limited having its registered office at No.10-3-56/4/1, Radhakrishna Street, East Marredpally, Secunderabad-500 026 for carrying on the business of a non-banking financial institution as the company has got amalgamated with Pioneer Overseas Finance, Pondicherry.. Following cancellation of registration certificate, Shrilekha Hire Purcha
Aug 08, 2003
Reserve Bank Cancels Certificate of Registration of Gopal Arya Finance Private Ltd., Jammu
The Reserve Bank of India, has on July 22, 2003 cancelled the certificate of registration granted to Gopal Arya Finance Private Limited having its registered office at Gopal Bhavan, Kachi Chowni, Jammu for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Gopal Arya Finance Private Limited cannot transact the business of a non-banking financial institution. However, the company is under an obligation t
The Reserve Bank of India, has on July 22, 2003 cancelled the certificate of registration granted to Gopal Arya Finance Private Limited having its registered office at Gopal Bhavan, Kachi Chowni, Jammu for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Gopal Arya Finance Private Limited cannot transact the business of a non-banking financial institution. However, the company is under an obligation t
Aug 01, 2003
Norms for Infrastructure Loans granted by NBFCs relaxed
The Reserve Bank of India today modified the prudential norms applicable to non-banking finance companies (NBFCs) in relation to their exposure to infrastructure loans. The norms prescribed for NBFCs are in alignment with the norms prescribed for banks and financial institutions. Accordingly, for the purpose of encouraging NBFCs to grant infrastructure loans, the Reserve Bank of India has specified that, now, when infrastructure loans granted by NBFCs are restructured
The Reserve Bank of India today modified the prudential norms applicable to non-banking finance companies (NBFCs) in relation to their exposure to infrastructure loans. The norms prescribed for NBFCs are in alignment with the norms prescribed for banks and financial institutions. Accordingly, for the purpose of encouraging NBFCs to grant infrastructure loans, the Reserve Bank of India has specified that, now, when infrastructure loans granted by NBFCs are restructured
Jul 28, 2003
NBFCs may offer Nomination on their Deposits
The Reserve Bank of India has, in consultation with the Government of India, decided that Non-banking Finance Companies (NBFCs) may, for the purpose of nominations, adopt the Banking Companies (Nomination) Rules, 1985 made under Section 45ZA of the Banking Regulation Act, 1949. Accordingly, non-banking finance companies (NBFCs) are permitted to accept nominations made by the depositors in form DA1, cancellation of nomination in form DA2 and variation in nomination in
The Reserve Bank of India has, in consultation with the Government of India, decided that Non-banking Finance Companies (NBFCs) may, for the purpose of nominations, adopt the Banking Companies (Nomination) Rules, 1985 made under Section 45ZA of the Banking Regulation Act, 1949. Accordingly, non-banking finance companies (NBFCs) are permitted to accept nominations made by the depositors in form DA1, cancellation of nomination in form DA2 and variation in nomination in
Jul 24, 2003
Reserve Bank Cancels Certificate of Registration of M/s. Ishan Fincap Limited, Borsad
The Reserve Bank of India, has on June 12, 2003 cancelled the certificate of registration granted to M/s. Ishan Fincap Limited having its registered office at Above State Bank of India, Borsad-388 540, Dist.Kheda, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. Ishan Fincap Limited cannot transact the business of a non-banking financial institution. Under powers conferred by Section 45IA of
The Reserve Bank of India, has on June 12, 2003 cancelled the certificate of registration granted to M/s. Ishan Fincap Limited having its registered office at Above State Bank of India, Borsad-388 540, Dist.Kheda, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. Ishan Fincap Limited cannot transact the business of a non-banking financial institution. Under powers conferred by Section 45IA of
Jul 23, 2003
Reserve Bank Cancels Certificate of Registration of Four Square Leasing and Finance Limited, Chennai
The Reserve Bank of India, has on July 14, 2003 cancelled the certificate of registration granted to Four Square Leasing and Finance Limited having its registered office at 19, Sony Complex, Reddy Street, Villivakkam, Chennai-600 049, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, to Four Square Leasing and Finance Limited cannot transact the business of a non-banking financial institution. The
The Reserve Bank of India, has on July 14, 2003 cancelled the certificate of registration granted to Four Square Leasing and Finance Limited having its registered office at 19, Sony Complex, Reddy Street, Villivakkam, Chennai-600 049, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, to Four Square Leasing and Finance Limited cannot transact the business of a non-banking financial institution. The
Jul 10, 2003
Reserve Bank Cancels Certificate of Registration of Maggy Finance Private Limited, Nellore
The Reserve Bank of India, has on July 8, 2003 cancelled the certificate of registration granted to Maggy Finance Private Limited having its registered office at 3/369-Lakshmipuram, Nellore, Andhra Pradesh-524 002, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Maggi Finance Private Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited
The Reserve Bank of India, has on July 8, 2003 cancelled the certificate of registration granted to Maggy Finance Private Limited having its registered office at 3/369-Lakshmipuram, Nellore, Andhra Pradesh-524 002, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Maggi Finance Private Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited
Jun 07, 2003
Reserve Bank Cancels Certificate of Registration of Marichi Finance and Leasing Limited, Hyderabad
The Reserve Bank of India, has on June 4, 2003 cancelled the certificate of registration granted to Marichi Finance and Leasing Limited, having its registered office at 3-6-432, Himayatnagar, Hyderabad-500 029, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Marichi Finance and Leasing Limited cannot transact the business of a non-banking financial institution. Under powers conferred by Section 4
The Reserve Bank of India, has on June 4, 2003 cancelled the certificate of registration granted to Marichi Finance and Leasing Limited, having its registered office at 3-6-432, Himayatnagar, Hyderabad-500 029, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Marichi Finance and Leasing Limited cannot transact the business of a non-banking financial institution. Under powers conferred by Section 4
May 24, 2003
Reserve Bank Cancels Certificate of Registration of Oswal Capital Services Limited
The Reserve Bank of India, has on May 19, 2003 cancelled the certificate of registration granted to Oswal Capital Services Limited having its registered office at Jugiana, Ludhiana, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Oswal Capital Services Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposits and
The Reserve Bank of India, has on May 19, 2003 cancelled the certificate of registration granted to Oswal Capital Services Limited having its registered office at Jugiana, Ludhiana, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Oswal Capital Services Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposits and
May 03, 2003
Reserve Bank rejects application for Certificate of Registration of Sonal Finvest Private Limited
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 April 28, 2003 the application for certificate of registration submitted by Sonal Finvest Private Limited, `Sonal', 2/15, Gundawadi, Rajkot-360 002. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934.P.
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 April 28, 2003 the application for certificate of registration submitted by Sonal Finvest Private Limited, `Sonal', 2/15, Gundawadi, Rajkot-360 002. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934.P.
Mar 29, 2003
NBFC Regulations modified
Balance sheet formatThe Reserve Bank of India has today asked all Non-Banking Financial Companies (NBFCs) to attach, effective from the financial year ending March 31, 2003, a schedule to their balance sheet and give certain additional particulars. The Reserve Bank has prescribed a format prescribed for the schedule which includes information on borrowerwise and investorwise exposure to related parties, position of non-performing assets and business levels in lease an
Balance sheet formatThe Reserve Bank of India has today asked all Non-Banking Financial Companies (NBFCs) to attach, effective from the financial year ending March 31, 2003, a schedule to their balance sheet and give certain additional particulars. The Reserve Bank has prescribed a format prescribed for the schedule which includes information on borrowerwise and investorwise exposure to related parties, position of non-performing assets and business levels in lease an
Mar 25, 2003
Reserve Bank rejects application for Certificate of Registration of Phoenix International Finance Limited
The Reserve Bank of India, has on March 19, 2003 rejected the application for certificate of registration submitted by Phoenix International Finance Limited having its office at 3rd floor, Gopala Tower, 25, Rajendra Place, New Delhi-110 008 for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Phoenix International Finance Limited can not transact the business of a non-banking financial
The Reserve Bank of India, has on March 19, 2003 rejected the application for certificate of registration submitted by Phoenix International Finance Limited having its office at 3rd floor, Gopala Tower, 25, Rajendra Place, New Delhi-110 008 for carrying on the business of a non-banking financial institution. Following rejection of application for certificate of registration, Phoenix International Finance Limited can not transact the business of a non-banking financial
Mar 22, 2003
Reserve Bank Cancels Certificate of Registration of Yashaswi Limited
The Reserve Bank of India, has on March 21, 2003 cancelled the certificate of registration granted to Yashaswi Limited having its registered office at S.F-10, City Point, 13, Infantry Road, Bangalore-560 001, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Yashaswi Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acceptance of
The Reserve Bank of India, has on March 21, 2003 cancelled the certificate of registration granted to Yashaswi Limited having its registered office at S.F-10, City Point, 13, Infantry Road, Bangalore-560 001, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Yashaswi Limited cannot transact the business of a non-banking financial institution. The company has also been prohibited from acceptance of
Mar 19, 2003
Certificate of Registration cancelled - Team Finance Company 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 March 12, 2003 the certificate of registration issued to Team Finance Company Ltd., 404, Janpath Towers, Ashok Nagar, Bhubaneshwar, 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 institution as defined in Clause (a) of Se
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 March 12, 2003 the certificate of registration issued to Team Finance Company Ltd., 404, Janpath Towers, Ashok Nagar, Bhubaneshwar, 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 institution as defined in Clause (a) of Se
Mar 17, 2003
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 March 10, 2003 the application for certificate of registration submitted by Bharat Projects Limited, 24, Dakshineswar, 10, Hailey Road, New Delhi-110 001 for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the b
It is hereby notified for the information of public that 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 March 10, 2003 the application for certificate of registration submitted by Bharat Projects Limited, 24, Dakshineswar, 10, Hailey Road, New Delhi-110 001 for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the b
Mar 07, 2003
ARCs to submit Registration Application to RBI by March 20
The Reserve Bank of India has notified the format of the application form which is to be submitted by the securitisation companies or reconstruction companies. These companies are required to apply to the Reserve Bank for registration under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The application form can be accessed on the Reserve Bank's web site www.rbi.org.in. The Reserve Bank has also cl
The Reserve Bank of India has notified the format of the application form which is to be submitted by the securitisation companies or reconstruction companies. These companies are required to apply to the Reserve Bank for registration under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The application form can be accessed on the Reserve Bank's web site www.rbi.org.in. The Reserve Bank has also cl
Mar 03, 2003
RBI lowers ceiling on interest rates paid by NBFCs on deposits
The Reserve Bank of India today announced a revision in the maximum rate of interest which the non-banking financial companies (NBFCs) can offer on their public deposits. Taking into account the market conditions and changes in other interest rates in the entire financial system, the maximum rate of interest that NBFCs can pay on their public deposits, has been revised to 11 per cent per annum. The revision will be effective from March 4, 2003. The Reserve Bank has al
The Reserve Bank of India today announced a revision in the maximum rate of interest which the non-banking financial companies (NBFCs) can offer on their public deposits. Taking into account the market conditions and changes in other interest rates in the entire financial system, the maximum rate of interest that NBFCs can pay on their public deposits, has been revised to 11 per cent per annum. The revision will be effective from March 4, 2003. The Reserve Bank has al
Feb 12, 2003
Certificate of Registration cancelled - IndusInd Leasing 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 February 8, 2003 the certificate of registration issued to IndusInd Leasing Ltd., SCO: 44, Sector 41-D, Chandigarh, 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 institution as defined in Clause (a) of Section 45 IA of 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 cancelled on February 8, 2003 the certificate of registration issued to IndusInd Leasing Ltd., SCO: 44, Sector 41-D, Chandigarh, 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 institution as defined in Clause (a) of Section 45 IA of t
Feb 08, 2003
Certificate of Registration Cancelled
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on January 30, 2003, the certificate of registration issued to Scotia Finance Private Limited, Upper Ground Floor, Dr.Gopal Das Bhavan, 28, Barakhamba Road, New Delhi-110 001 to carry on the business of a non-banking financial institution as the company has opted to e
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on January 30, 2003, the certificate of registration issued to Scotia Finance Private Limited, Upper Ground Floor, Dr.Gopal Das Bhavan, 28, Barakhamba Road, New Delhi-110 001 to carry on the business of a non-banking financial institution as the company has opted to e
Feb 08, 2003
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(4) of the Reserve Bank of India Act, 1934, has rejected on February 4, 2003 the application for certificate of registration submitted by Yule Financing and Leasing Company Limited, Yule House, 8, Dr. Rajendra Prasad Sarani, Kokata-700 001 for carrying on the business of a Non-Banking Financial Institution As such, the above company cannot transact the business of a non-banking fin
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(4) of the Reserve Bank of India Act, 1934, has rejected on February 4, 2003 the application for certificate of registration submitted by Yule Financing and Leasing Company Limited, Yule House, 8, Dr. Rajendra Prasad Sarani, Kokata-700 001 for carrying on the business of a Non-Banking Financial Institution As such, the above company cannot transact the business of a non-banking fin
Jan 24, 2003
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 31, 2002 the application for certificate of registration submitted by Sahakar Finance and Investment Co. Ltd., at Hanuman Galli, Sitaburdi, Nagpur-440 012, 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 institution
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 31, 2002 the application for certificate of registration submitted by Sahakar Finance and Investment Co. Ltd., at Hanuman Galli, Sitaburdi, Nagpur-440 012, 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 institution
Jan 23, 2003
Certificate of Registration cancelled
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 January 17, 2003 the certificate of registration issued to Sran Finvest Private Limited, G. T. Road, Near Truck Union, Moga, 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 institution as defined in Clause (a) of Section 4
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 January 17, 2003 the certificate of registration issued to Sran Finvest Private Limited, G. T. Road, Near Truck Union, Moga, 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 institution as defined in Clause (a) of Section 4
Jan 16, 2003
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 January 09, 2003 the application for certificate of registration submitted by Lakshmi Capitals Limited, 310, Lal Kuan, M.B. Road, New Delhi - 110044 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 Clau
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 January 09, 2003 the application for certificate of registration submitted by Lakshmi Capitals Limited, 310, Lal Kuan, M.B. Road, New Delhi - 110044 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 Clau
Jan 14, 2003
Rejection of applications 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 the applications for certificate of registration submitted by the following non-banking financial companies:Name of the CompanyRejected on1 M/s. Kaynet Capital Ltd., 10-B, 3rd Floor, Haji Kassam Building, 66, Tarmarind Lane, Fort, Mumbai-400 023January 7, 20032. M/s. Prime Investrade Financial Services Ltd., Haji Adam Mansion, 6
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 certificate of registration submitted by the following non-banking financial companies:Name of the CompanyRejected on1 M/s. Kaynet Capital Ltd., 10-B, 3rd Floor, Haji Kassam Building, 66, Tarmarind Lane, Fort, Mumbai-400 023January 7, 20032. M/s. Prime Investrade Financial Services Ltd., Haji Adam Mansion, 6
Jan 13, 2003
Certificate of Registration cancelled
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 December 14 2002 the certificate of registration issued to Interact Leasing & Finance Limited, 8-H, Gopala Tower, Rajendra Place, New Delhi-110 008, 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 institution as defined
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 December 14 2002 the certificate of registration issued to Interact Leasing & Finance Limited, 8-H, Gopala Tower, Rajendra Place, New Delhi-110 008, 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 institution as defined
Jan 13, 2003
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 January 10, 2003 the application for certificate of registration submitted by Flex International Limited (formerly Mangalam High Seas Limited), M-107, Greater Kailash-II, New Delhi-110 048, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-bank
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 January 10, 2003 the application for certificate of registration submitted by Flex International Limited (formerly Mangalam High Seas Limited), M-107, Greater Kailash-II, New Delhi-110 048, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-bank
Jan 10, 2003
Certificate of Registration cancelled
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 December 17, 2002 the certificate of registration issued to Merbanc Financial Services Limited, 204 Ganga Estate, 6-3-350, Nagarjuna Circle, Hyderabad-500 034, 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 institution as
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 December 17, 2002 the certificate of registration issued to Merbanc Financial Services Limited, 204 Ganga Estate, 6-3-350, Nagarjuna Circle, Hyderabad-500 034, 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 institution as
Jan 09, 2003
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(4) of the Reserve Bank of India Act, 1934, has rejected on January 8, 2003 the application for certificate of registration submitted by Sanchayani Savings & Investment (I) Ltd., Block `A', 9 X, Kalyani Town, Dist.Nadia, West Bengal for carrying on the business of a Non-Banking Financial Institution As such, the above company cannot transact the business of a non-banking financ
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(4) of the Reserve Bank of India Act, 1934, has rejected on January 8, 2003 the application for certificate of registration submitted by Sanchayani Savings & Investment (I) Ltd., Block `A', 9 X, Kalyani Town, Dist.Nadia, West Bengal for carrying on the business of a Non-Banking Financial Institution As such, the above company cannot transact the business of a non-banking financ
Jan 09, 2003
NBFCs with Net Owned Fund ( NOF) of less than Rs 25 lakh to stop carrying on the business of NBFC
The Reserve Bank of India has directed that, NBFCs (other than those exempted from the provisions of Section 45-IA of the Reserve Bank of India Act, 1934), which have not achieved the minimum Net Owned Fund of Rs 25 lakh by January 9, 2003, are not entitled to continue the business of a non-banking financial institution beyond that date irrespective of whether or not the decision of the Reserve Bank of India on the application of the company for certificate of registr
The Reserve Bank of India has directed that, NBFCs (other than those exempted from the provisions of Section 45-IA of the Reserve Bank of India Act, 1934), which have not achieved the minimum Net Owned Fund of Rs 25 lakh by January 9, 2003, are not entitled to continue the business of a non-banking financial institution beyond that date irrespective of whether or not the decision of the Reserve Bank of India on the application of the company for certificate of registr
Jan 08, 2003
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 January 4, 2003 the applications for certificate of registration submitted by the following companies for carrying on the business of a Non-Banking Financial Institution: Sr.No.Name of the CompanyRejected on(i)M/s. Alka Securities Limited 306/307, Manubhai Towers Opp. M.S.Towers Opp. M.S. University Vadodra - 390 005. 04.01.2
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 January 4, 2003 the applications for certificate of registration submitted by the following companies for carrying on the business of a Non-Banking Financial Institution: Sr.No.Name of the CompanyRejected on(i)M/s. Alka Securities Limited 306/307, Manubhai Towers Opp. M.S.Towers Opp. M.S. University Vadodra - 390 005. 04.01.2
Jan 08, 2003
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 the applications for certificate of registration of the following companies for commencing the business of Non-Banking Financial Institution on January 6, 2003.(i) Sonali Vinimay Private Limited, 2, Ganesh Chandra Avenue, 2nd Floor, Room No.5, Kolkata -700013.(ii) Shibani Dealers Private Limited, P-27, Princep Street, 3rd Floor,
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 certificate of registration of the following companies for commencing the business of Non-Banking Financial Institution on January 6, 2003.(i) Sonali Vinimay Private Limited, 2, Ganesh Chandra Avenue, 2nd Floor, Room No.5, Kolkata -700013.(ii) Shibani Dealers Private Limited, P-27, Princep Street, 3rd Floor,
Jan 07, 2003
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 January 1, 2003 the application for certificate of registration submitted by M/s Pancharatna Finance and Investment Ltd., A. T. Road, Guwahati-1, 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 institution as defined in Clau
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 January 1, 2003 the application for certificate of registration submitted by M/s Pancharatna Finance and Investment Ltd., A. T. Road, Guwahati-1, 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 institution as defined in Clau
Jan 04, 2003
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 January 3, 2003 the application for certificate of registration submitted by Dev Securities Private Ltd., 4/181, Kodambakkam High Road, Nungambakkam, Chennai-600 034, 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 institut
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 January 3, 2003 the application for certificate of registration submitted by Dev Securities Private Ltd., 4/181, Kodambakkam High Road, Nungambakkam, Chennai-600 034, 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 institut
Dec 27, 2002
Certificate of Registration Cancelled
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on December 24, 2002, the certificate of registration issued to DCL Finance Limited, DCL Chambers, 6-3-569/1, Opposite RTA Office, Somajiguda, Hyderabad-500 082 to carry on the business of a non-banking financial institution.As such, the above company cannot transact
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on December 24, 2002, the certificate of registration issued to DCL Finance Limited, DCL Chambers, 6-3-569/1, Opposite RTA Office, Somajiguda, Hyderabad-500 082 to carry on the business of a non-banking financial institution.As such, the above company cannot transact
Dec 27, 2002
Rejection of applications 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 24, 2002 the application for certificate of registration submitted by Prakash Mutual Benefits Ltd., Prakash Bhawan, Near I. T. I., Civil Lines, Deoria-274 001, Uttar Pradesh.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the
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 24, 2002 the application for certificate of registration submitted by Prakash Mutual Benefits Ltd., Prakash Bhawan, Near I. T. I., Civil Lines, Deoria-274 001, Uttar Pradesh.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the
Dec 21, 2002
Cancellation of the certificate of registration as `surrendered'
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on December 16, 2002, the certificate of registration issued to Sree Lalithamba Auto and General Finance Private Limited, 3-2-392 and 3-2-393, Budhvarpet, Bus Stand Road, Nirmal, Andhra Pradesh-504 106 to carry on the business of a non-banking financial
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on December 16, 2002, the certificate of registration issued to Sree Lalithamba Auto and General Finance Private Limited, 3-2-392 and 3-2-393, Budhvarpet, Bus Stand Road, Nirmal, Andhra Pradesh-504 106 to carry on the business of a non-banking financial
Nov 23, 2002
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 November 13, 2002 the application for certificate of registration submitted by Securex Financial Services (India) Limited, at 23, Nariman Bhavan, Nariman Point, Mumbai 400 021 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
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 November 13, 2002 the application for certificate of registration submitted by Securex Financial Services (India) Limited, at 23, Nariman Bhavan, Nariman Point, Mumbai 400 021 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
Nov 13, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 November 11, 2002 the application for certificate of registration submitted by NMR Investments Private Limited, C-4, Rams Apartments, Door No.3, 8th Street, Gopalapuram, Chennai-600 086 for carrying on the business of a Non-Banking Financial Institution. As such, the ab
It is hereby notified for the information of public that 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 November 11, 2002 the application for certificate of registration submitted by NMR Investments Private Limited, C-4, Rams Apartments, Door No.3, 8th Street, Gopalapuram, Chennai-600 086 for carrying on the business of a Non-Banking Financial Institution. As such, the ab
Oct 31, 2002
Certificate of Registration Cancelled
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on October 28, 2002, the certificate of registration issued to Amaravathi Finance Private limited, No.22-A, Desikar Street, Vadapalani, Chennai-600 026 to carry on the business of a non-banking financial institution.As such, the above company cannot tra
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on October 28, 2002, the certificate of registration issued to Amaravathi Finance Private limited, No.22-A, Desikar Street, Vadapalani, Chennai-600 026 to carry on the business of a non-banking financial institution.As such, the above company cannot tra
Oct 28, 2002
Certificate of Registration Cancelled as Surrendered
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as `surrendered' on October 26, 2002, the certificate of registration issued to Mahaan Hire Purchase and Finance Limited, 5-11-1028/1, Yellamgutta, Nizamabad-503 003 to carry on the business of a Non-Banking Financial Institution. As such, the above company cannot tra
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as `surrendered' on October 26, 2002, the certificate of registration issued to Mahaan Hire Purchase and Finance Limited, 5-11-1028/1, Yellamgutta, Nizamabad-503 003 to carry on the business of a Non-Banking Financial Institution. As such, the above company cannot tra
Oct 28, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 October 16, 2002 the application for certificate of registration submitted by Pacific Trafin Limited, 6, Old Court House Street, 5th floor, Kolkata-700 001 to commence the business of a Non-Banking Financial Institution. As such, the above company cannot transact the bu
It is hereby notified for the information of public that 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 October 16, 2002 the application for certificate of registration submitted by Pacific Trafin Limited, 6, Old Court House Street, 5th floor, Kolkata-700 001 to commence the business of a Non-Banking Financial Institution. As such, the above company cannot transact the bu
Oct 26, 2002
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 October 17, 2002 the application for certificate of registration submitted by Shakti Fiscal Ventures Pvt. Ltd., at Shakti House, Wardha Road, Nagpur-400 012, 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 institution as def
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 October 17, 2002 the application for certificate of registration submitted by Shakti Fiscal Ventures Pvt. Ltd., at Shakti House, Wardha Road, Nagpur-400 012, 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 institution as def
Oct 26, 2002
Certificate of Registration Cancelled as `surrendered'
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as `surrendered' on October 25, 2002, the certificate of registration issued to Beeyamaar Finance Private Limited, D.No.40-9-72, Kalanagar, Vijayawada, Andhra Pradesh-520 010 to carry on the business of a Non-Banking Financial Institution. As such, the above company c
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled as `surrendered' on October 25, 2002, the certificate of registration issued to Beeyamaar Finance Private Limited, D.No.40-9-72, Kalanagar, Vijayawada, Andhra Pradesh-520 010 to carry on the business of a Non-Banking Financial Institution. As such, the above company c
Oct 26, 2002
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 October 22, 2002 the application for certificate of registration submitted by Mafatlal Finance Company Ltd., 407, Dimple Arcade, Asha Nagar, Off Western Express Highway, Thakur Complex, Kandivli (East), Mumbai-400 101, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transa
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 October 22, 2002 the application for certificate of registration submitted by Mafatlal Finance Company Ltd., 407, Dimple Arcade, Asha Nagar, Off Western Express Highway, Thakur Complex, Kandivli (East), Mumbai-400 101, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transa
Oct 23, 2002
Rejection of applications for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(4) of the Reserve Bank of India Act, 1934, has rejected the applications for certificate of registration of the following companies for commencing the business of non-banking financial institutions: Name of the CompanyRejected on 1)Manorama Tracom Private LimitedOctober 12, 2002 2, Ganesh Chandra Avenue, 2nd Floor, Kolkata-700 013 2)Jayanti Agency Pvt. Ltd.,October 12, 2002 P-27,
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(4) of the Reserve Bank of India Act, 1934, has rejected the applications for certificate of registration of the following companies for commencing the business of non-banking financial institutions: Name of the CompanyRejected on 1)Manorama Tracom Private LimitedOctober 12, 2002 2, Ganesh Chandra Avenue, 2nd Floor, Kolkata-700 013 2)Jayanti Agency Pvt. Ltd.,October 12, 2002 P-27,
Oct 22, 2002
Rejection of Application for Certificate of Registration
It is hereby notified for the information of public that 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 August 26, 2002 the application for certificate of registration submitted by Waldevi Trading Company Pvt. Ltd., A-8, Vijayalaxmi Chamber, Artillery Centre Road, Nashik Road-422 101, for carrying on the business of a Non-Banking Financial Institution.As such, the above c
It is hereby notified for the information of public that 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 August 26, 2002 the application for certificate of registration submitted by Waldevi Trading Company Pvt. Ltd., A-8, Vijayalaxmi Chamber, Artillery Centre Road, Nashik Road-422 101, for carrying on the business of a Non-Banking Financial Institution.As such, the above c
Oct 19, 2002
Certificate of Registration Cancelled
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under sub-section (6) of Section 45 IA of the Reserve Bank of India Act, 1934, has cancelled the certificate of registration issued to Plus Finance Limited, having registered at 44-B, Hotel Chalukya Annexe, Race Course Road, Bangalore-560 001.As such, the above company cannot transact the business of a non-banking financial institution, as defi
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under sub-section (6) of Section 45 IA of the Reserve Bank of India Act, 1934, has cancelled the certificate of registration issued to Plus Finance Limited, having registered at 44-B, Hotel Chalukya Annexe, Race Course Road, Bangalore-560 001.As such, the above company cannot transact the business of a non-banking financial institution, as defi
Oct 12, 2002
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 October 10, 2002 the application for certificate of registration submitted by Wisec Global Limited, B-6/7, Commercial Complex, Safdarjung Enclave, New Delhi-110 029, 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 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 October 10, 2002 the application for certificate of registration submitted by Wisec Global Limited, B-6/7, Commercial Complex, Safdarjung Enclave, New Delhi-110 029, 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 instituti
Oct 11, 2002
Certificate of Registration cancelled
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on October 9, 2002 the certificate of Registration granted to ICDS Limited having its registered office at Syndicate House, Manipal-576 119, Udupi District, Karnataka. 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 RBI Act, 1934.
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on October 9, 2002 the certificate of Registration granted to ICDS Limited having its registered office at Syndicate House, Manipal-576 119, Udupi District, Karnataka. 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 RBI Act, 1934.
Oct 10, 2002
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 October 4, 2002 the application for certificate of registration submitted by Kumar Auto Finance Private Limited, 317-A, Pocket-II, Mayur Vihar, Phase-I, New Delhi-110 091, 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 ins
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 October 4, 2002 the application for certificate of registration submitted by Kumar Auto Finance Private Limited, 317-A, Pocket-II, Mayur Vihar, Phase-I, New Delhi-110 091, 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 ins
Oct 01, 2002
RBI Modifies NBFC Regulations
The Reserve Bank of India today announced that non-banking financial companies (NBFCs) should necessarily hold their investments in Government Securities only in dematerialised form, either in a Constituent's Subsidiary General Ledger Account (CSGL) with a scheduled commercial bank / Stock Holding Corporation of India Ltd. or with a depository. The NBFCs have been permitted, as a special case, time up to October 31, 2002 to dematerialise the securities/bonds held by t
The Reserve Bank of India today announced that non-banking financial companies (NBFCs) should necessarily hold their investments in Government Securities only in dematerialised form, either in a Constituent's Subsidiary General Ledger Account (CSGL) with a scheduled commercial bank / Stock Holding Corporation of India Ltd. or with a depository. The NBFCs have been permitted, as a special case, time up to October 31, 2002 to dematerialise the securities/bonds held by t
Sep 28, 2002
Rejection of applications 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 September 27, 2002 the application for certificate of registration submitted by Uplease Financial Services Ltd., Khushnuma Complex, 7, Meerabai Marg, Lucknow, Uttar Pradesh. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve B
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 September 27, 2002 the application for certificate of registration submitted by Uplease Financial Services Ltd., Khushnuma Complex, 7, Meerabai Marg, Lucknow, Uttar Pradesh. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve B
Sep 23, 2002
Certificate of Registration Cancelled
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under sub-section (6) of Section 45 IA of the Reserve Bank of India Act, 1934, has cancelled as surrendered on September 19, 2002 the certificate of registration No.07.00379 dated November 25, 1998 issued to Indian Finance and Factors Limited, having registered at 66 (new No.131) Royapettah High Road, Mylapore, Chennai-600 004, to carry on the
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under sub-section (6) of Section 45 IA of the Reserve Bank of India Act, 1934, has cancelled as surrendered on September 19, 2002 the certificate of registration No.07.00379 dated November 25, 1998 issued to Indian Finance and Factors Limited, having registered at 66 (new No.131) Royapettah High Road, Mylapore, Chennai-600 004, to carry on the
Install the RBI mobile application and get quick access to the latest news!
Page Last Updated on: November 13, 2024
