Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
23 Jul 2014
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of Nano Financial Services India Private Limited, an NBFC, for carrying on the business of a non-banking financial institution. As a result, the company is no longer permitted to transact NBFC business.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of Nano Financial Services India Private Limited, a non-banking financial company (NBFC), for carrying on the business of non-banking financial institution. The release states that following cancellation of the registration certificate, the company cannot transact the business of a non-banking financial institution.
Operating Impact
Nano Financial Services India Private Limited cannot carry on or transact the business of a non-banking financial institution anymore. This is a complete regulatory stop on its NBFC operations.
Action Facts
- Primary Impact
- License cancellation
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC