The Reserve Bank of India (RBI) on November 10 said it cancelled the certificate of registration of two non-banking finance companies (NBFCs) — Todays Holdings Pvt Ltd and Integrated Finance Co Ltd.
In a separate notification, the central bank said four NBFCs and two housing finance companies, which includes Housing Development Finance Corporation (HDFC), surrendered their licences.
The four NBFCs are Ford Credit India Pvt Ltd, Acoustic Commercial Pvt Ltd, VSG Trade Pvt Ltd, and Centrum Microcredit Ltd. It other housing finance company to give up its licence was National Trust Housing Finance Ltd.
HDFC surrendered it as it has merged with HDFC Bank. The twin entities announced the decision to merge on April 4, 2022.
The board has approved "July 1, 2023, to be the ‘effective date’ of the (amalgamation) scheme, on which date the certified order of the NCLT sanctioning the scheme will be filed by HDFC Investments, HDFC Holdings, the Corporation and HDFC Bank with the Registrar of Companies (RoC)", a regulatory filing by HDFC said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
