RBI cancels registration of two NBFCs
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.