Case brief
RBI cancelled the Certificates of Registration of 135 NBFCs named in the release. The entities can no longer carry on NBFC business.
Impact
All 135 listed companies lose their RBI registration to operate as NBFCs and must stop transacting NBFC business. This affects the companies directly and may also impact customers, counterparties, and creditors dealing with them as financial institutions.
Why RBI acted
Regulatory basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I(a) of the RBI Act, 1934
Bulk action context
This RBI action affected 135 entities. This profile is linked as bulk member.