Moneycontrol
Mar 10, 2016 08:19 AM IST | Source: PTI

RBI cancels registration cert of 4 NBFCs,including BNP Paribas

The three other firms are Mumbai-based Financial Services Private Limited Bhageriya Financial and Capital Services Limited of Hyderabad and Kenny Commercial & Investment Pvt. Ltd belonging to Jammu.

RBI cancels registration cert of 4 NBFCs,including BNP Paribas

Reserve Bank said it has cancelled registration certificate of four non-banking financial companies (NBFCs), including BNP Paribas India Holding Pvt Ltd.


The three other firms are Mumbai-based Financial Services Private Limited Bhageriya Financial and Capital Services Limited of Hyderabad and Kenny Commercial & Investment Pvt. Ltd belonging to Jammu.


Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution, RBI said.


Commenting on RBI's move, BNP Paribas said: "In view of BNP Paribas India Holding Company (BNPP IHC) being classified as an exempt Core Investment Company which will not access public funds, RBI has, on BNPP IHC's own request, cancelled its registration as an NBFC".

Over last some years, RBI has carved out some specialised NBFCs like Core Investment Companies (CICs), NBFC- Infrastructure Finance Companies (IFCs), Infrastructure Debt Fund- NBFCs, NBFC-MFIs and NBFC-Factors.

Sections
Follow us on
Available On