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RBI rejects application of Delhi-based NBFC
Mumbai, Sept 29: Reserve Bank of India has rejected application for certificate of registration of Delhi-based J L Growth Fund Pvt Ltd for carrying out the business of a non-banking financial institution (NBFC).
Mumbai, Sept 29: Reserve Bank of India has rejected application for certificate of registration of Delhi-based J L Growth Fund Pvt Ltd for carrying out the business of a non-banking financial institution (NBFC).
Following the rejection, the entity cannot transact business of a non-banking financial institution and has also been prohibited from accepting deposits and alienating assets, RBI said in a release here today.
The action has been taken under powers conferred on the apex bank by Section 45 of RBI Act, 1934.
Bureau Report