7 NBFCs surrender registration to RBI

Seven NBFCs including, Shapoorji Pallonji (Gwalior) and Natwest Investments, have surrendered certificates of registration to the Reserve Bank.

The central bank also cancelled the certificate of registration of six NBFC.

Murat Viniyog, Koneru Investments, B P Capital, Marudhar Lease Financing, and Khevana Investments are the other five Non-Banking Financial Institution (NBFC) which surrendered their certificates of registration to the RBI.

In a statement, the RBI said that certificates of registration of Star Line Leasings Limited, Target Credit and Capital, Vishwakarma Strips and Investments, Purohit Finlease, Royal Moga Hire Purchase and Oak Finalease (formerly Eness Finalease) has been cancelled.

Now these 13 NBFCs cannot transact the business of a non-banking financial institution.