Reserve Bank Cancels Certificate of Registration of Vikas Profin Limited, New Delhi
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to Vikas Profin Limited, New Delhi, on November 20, 2006. The action was taken under Section 45-IA(6) of the RBI Act, 1934, after the company opted to exit the business of a non-banking financial institution. Following the cancellation, Vikas Profin Limited is no longer permitted to carry on the business of a non-banking financial institution.
On November 20, 2006, the Reserve Bank of India cancelled the Certificate of Registration granted to Vikas Profin Limited, New Delhi, under Section 45-IA(6) of the RBI Act, 1934. The release states that the company had opted to exit from the business of a non-banking financial institution. As a result of the cancellation, the company cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of a Certificate of Registration is a licence cancellation, which carries severity 5 regardless of the underlying reason.
Vikas Profin Limited can no longer conduct non-banking financial institution business. The restriction applies to the company itself and removes its ability to operate in that activity going forward.
Published as Vikas Profin Limited
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
© 2026 RegOversight by OddVector