RBI cancels 4 NBFCs registration; 11 surrender permit

Reserve Bank of India

The Reserve Bank of India (RBI) on July 13 said it cancelled the certification of registration of four non-banking finance companies (NBFC) and 11 entities have surrendered their licences.

NBFCs whose licence has been cancelled are Nanma Chits and Financiers Ltd, Chidrupi Financial Services Ltd, Goldline Financial Services Ltd and Kailash Auto Finance Ltd, the central bank said in a release.

While, those who surrendered their licences include Sanapala Holdings Pvt Ltd, De Lage Landen Financial Services Pvt Ltd and Jamshedpur Securities, among others, the release said.

Out of 11 NBFCs, four entities have surrendered their licence due to exit from NBFC business and another four have surrendered due to not meeting the criteria prescribed for unregistered Core Investment Company (CIC) that do not require registration, RBI said.

Further, the central bank said the remaining three have surrendered their licence as these entities ceased to be legal entities due to amalgamation/merger/dissolution/ voluntary strike-off, etc.