RBI cancels registration certificate of BNP Paribas, 3 other NBFCs

The Reserve Bank of India on Wednesday said it has cancelled registration certificates of four non-banking financial companies (NBFCs) including BNP Paribas

RBI cancels registration certificate of BNP Paribas, 3 other NBFCs

Mumbai: The Reserve Bank of India on Wednesday said it has cancelled registration certificates 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, Capital Services Limited of Hyderabad and Kenny Commercial & Investment Pvt Ltd belonging to Jammu.

 

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

Commenting on the 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 few years, the RBI has carved out some specialized NBFCs like Core Investment Companies (CICs), NBFC-Infrastructure Finance Companies (IFCs), Infrastructure Debt Fund- NBFCs, NBFC-MFIs and NBFC-Factors.

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