RBI cancels Certificate of Registration
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of the listed non-banking financial companies (NBFCs) under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The excerpt provided does not name the affected entities or specify the underlying factual violations, but the action is a formal cancellation of registration with RBI.
The Reserve Bank of India cancelled the Certificate of Registration of the following non-banking financial companies (NBFCs) in exercise of its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The provided text does not include the individual company names or any specific factual grounds beyond the statutory basis for cancellation.
Severity Assessment
Cancellation of a Certificate of Registration is a licence cancellation, which is severity 5 regardless of any monetary amount.
The affected NBFCs can no longer operate as registered NBFCs under RBI authorization. Any business dependent on the cancelled registration must stop unless another lawful permission exists, and counterparties should treat the registration status as withdrawn.
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