RBI cancels Certificate of Registration of four NBFCs

The Reserve Bank of India (RBI) said on Tuesday it has cancelled the Certificate of Registration of four non-banking financial companies (NBFCs).

The Reserve Bank of India (RBI) said on Tuesday it has cancelled the Certificate of Registration of four non-banking financial companies (NBFCs). The NBFCs whose Certificate of Registration has been cancelled include Kanva Shree Credit Private Limited (formerly known as MCI Leasing Private Limited), Williamson Magor & Co. Ltd, Galaxy Capital Finance Limited and SRS Finance Limited.

"The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies," the RBI said in a statement. The RBI issued cancellation order for Kanva Shree Credit Private Limited (formerly known as MCI Leasing Private Limited) on June 8, 2022.

For the other three NBFCs the cancellation order was issued on June 29, 2022, the RBI said. (ANI)