RBI cancels registration of two NBFCs

The Reserve Bank recently 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.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.