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RBI cancels registration of four NBFCs

Reserve Bank of India (RBI) on Monday said that it has cancelled the certificate of registration of four non-banking financial companies (NBFCs).

RBI-AVNo details were given by the apex bank for cancellation of the certificates of these firms.

“The Reserve Bank has cancelled the certificate of registration of four non-banking financial companies (NBFCs) in exercise of the powers under the Reserve Bank of India Act, 1934”, it said in a notification on Tuesday.

Goyal Commercial Pvt Ltd and First Debt Management Co. of India Ltd are the NBFCs belonging to Kolkata, while Nostalgia Finvest Private Limited and Narad Realtors Private Limited belong to Mumbai.

The registration certificate of these NBFCs were cancelled in November and December of 2015.

“Following the cancellation of registration certificate, the above companies cannot transact the business of a non-banking financial institution”, RBI added.

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