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RBI cancels Certificate of Registration of 17 NBFCs



NEW DELHI. Cracking the whip on the many Nnn banking financial companies, the Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, cancelled the Certificate of Registration of 17 NBFCs.

The RBI order bars these companies from transacting any business as a Non-Banking Financial Institution.
(updated on August 9th, 2018)