Reserve Bank Cancels Certificate of Registration of Yeturi General Finances Limited
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to Yeturi General Finances Limited, whose registered office is in Banjara Hills, Hyderabad, under Section 45-IA(6) of the RBI Act, 1934. The release says the company was registered to carry on the business of a non-banking financial institution and that, after cancellation, it cannot transact that business anymore.
The Reserve Bank of India cancelled the certificate of registration of Yeturi General Finances Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company had been granted registration to carry on the business of a non-banking financial institution and that, following cancellation, it can no longer transact that business.
Severity Assessment
Cancellation of a Certificate of Registration is a full licence cancellation, which is severity 5.
Yeturi General Finances Limited is barred from carrying on non-banking financial institution business from the cancellation date. The restriction directly affects the company’s ability to operate as an NBFC, while customers and counterparties should no longer treat it as an authorised non-banking financial institution.
Published as Yeturi General Finances Limited
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