REGULATING NON-BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country’s financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.

Press Release

(94 kb)

Date : May 10, 2018

Cancellation of Certificate of Registration of 3 NBFCs

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

Sr. No.	Name of the Company	Office Address	CoR No.	Issued On	Cancellation Order Date
1.	M/s Jagannatha Financial Services Limited	Dr. MPM Nivas, II Floor, Door No. 21, Salai Road, Tiruchirappalli-620 003 Tamilnadu	N-07.00764	March 30, 2007	April 13, 2018
2.	M/s SCF Finance Limited	228, Janakpuri Chowk, Industrial Area-A, Link Road, Ludhiana-141003, Punjab	A-06.00135	August 28, 2007	April 23, 2018
3.	M/s Mansar Finance Limited	22B/B, Extension 2, Gandhinagar, Jammu-180 004	A-1100044	November 22, 2011	April 23, 2018

As such, the above company shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/2956

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