M/s RCS Parivar Finance Limited (formerly known as Pawansut Merchants Ltd.)

The Reserve Bank of India cancelled the Certificate of Registration of seven non-banking financial companies in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The named companies include Artisans Micro Finance Private Limited, Religare Finance Limited, Nott Investments (P) Ltd., Eden Trade & Commerce Pvt. Ltd., RCS Parivar Finance Limited (formerly known as Pawansut Merchants Ltd.), Swetasree Finance (P) Ltd., and Dewra Stocks & Securities (P) Ltd. Following cancellation of registration, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the RBI Act, 1934.

All seven affected NBFCs must stop carrying on NBFC business. Customers and counterparties should no longer treat them as RBI-registered NBFCs for new non-banking financial institution transactions.