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RBI cancels registration of two NBFCs

The Reserve Bank Monday said it has cancelled registration of two non-banking financial companies -- Emcorp Finance Ltd and Care Credit and Investments Company Pvt Ltd.



Mumbai: The Reserve Bank Monday said it has cancelled registration of two non-banking financial companies -- Emcorp Finance Ltd and Care Credit and Investments Company Pvt Ltd.

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

Certificate of registration of Chennai-based Emcorp Finance was cancelled on December 3, while that of Coimbatore- based Care Credit and Investments Company was cancelled on December 10.

The RBI, however, did not provide reasons behind cancellation of the certificates of registration.

PTI

From Zee News

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