Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
28 Aug 2014
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s Bambino Finance Private Ltd., Hyderabad, a non-banking financial company (NBFC). The cancellation was issued under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not specify the factual violations or operational conduct that led to the cancellation, but the action itself is a complete withdrawal of the company’s NBFC registration.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s Bambino Finance Private Ltd., Hyderabad, which is a non-banking financial company (NBFC), in exercise of its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not state the underlying factual breach, but the statutory basis for the cancellation is expressly cited.
Operating Impact
M/s Bambino Finance Private Ltd. can no longer operate as an NBFC under the cancelled Certificate of Registration. The action affects the company directly and may have knock-on consequences for its customers and counterparties, subject to any separate transitional or winding-up arrangements not described in the release.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC