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.

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Date : Apr 22, 2019
5 NBFCs surrender their Certificate of Registration to RBI

The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. 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 therefore cancelled their Certificate of Registration.

Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date
1. Motilal Oswal Financial Services Limited Motilal Oswal Tower, Rahimtullah Sayani Road, Opp. S T Depot, Prabhadevi, Mumbai-400 025, Maharashtra B-13.01830 April 05, 2006 March 14, 2019
2. J.P. Morgan Advisors India Pvt. Limited J.P. Morgan Tower, Off C.S.T. Road, Kalina, Santacruz (E), Mumbai-400 021, Maharashtra N-13.01878 September 03, 2007 March 19, 2019
3. Kettlewell Bullen & Co. Ltd. (Presently known as Gloster Limited) 21, Strand Road, Kolkata-700 001, West Bengal 05.01847 April 30, 1998 March 20, 2019
4. Moneta Finance Private Limited 8, Electronics Complex. Chambaghat, Solan, Himachal Pradesh-173 213 B-06.00384 December 20, 2000 March 27, 2019
5. Bhushan Information Technologies Private Ltd. (Formerly known as Kalinga Pipes Ltd.) 3, Industrial Area, Phase I, Chandigarh-160 002 06.00040 March 05, 1998 March 29, 2019

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

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/2496