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The RBI cancels certificate of registration of four NBFCs

India Blooms News Service | | Feb 08, 2016, at 07:53 pm

Mumbai, Feb 8 (IBNS) The Reserve Bank of India (RBI) on Monday said that it has cancelled the certificate of registration of four non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

The NBFCs are Mumbai's Nostalgia Finvest Private Ltd and Narad Realtors Private Ltd and Kolkata's Goyal Commercial Private Ltd and First Debt Management Co. of India Ltd.

Following the cancellation of registration certificate, the four companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

#four NBFCs # The RBI

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