The Reserve Bank of India (RBI) has cancelled the certificate of registration of the 56 (fifty six) non-banking financial companies (NBFCs) as shown below, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following the cancellation of registration certificate, these companies cannot transact the business … Read more
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following seven non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr.No. Company’s Name Address of Registered Office Certificate of RegistrationNo. & Date Date ofcancellation 1. … Read more
1. What is a Non-Banking Financial Company (NBFC)? A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does … Read more
RBI/2014-15/383DNBR(PD).CC.No.009/03.10.42/2014-15 January 2, 2015 All NBFCs Dear Sirs, Know your Customer (KYC) Norms/Anti-Money Laundering (AML) standards/ Combating of Financing of Terrorism (CFT)/ Obligation of NBFCs under Prevention of Money laundering Act (PMLA), 2002 – Client Due Diligence measures Please refer to our Master Circular DNBS(PD) CC.No.387/03.10.42/ 2014-15 July 1, 2014, as per which NBFCs are required … Read more