RBI Revokes Registration of Multiple Non-Banking Financial Companies

The Reserve Bank of India (RBI) has canceled the certificate of registration for several NBFCs. The move affects core investment companies like RR Holdings and Anjali Capfin. Other firms such as HDFC Holdings, Guru Kirpa Finvest, and Astute Finance also face revocations, while Krishna Capfin's registration was restored.

The Reserve Bank of India (RBI) announced on Thursday that it has canceled the certificates of registration for two core investment companies (CICs) at their request. The companies include RR Holdings and Anjali Capfin, which appear on a list of non-banking financial companies (NBFCs) that have voluntarily surrendered their registrations.

The RBI explained that the revocation of the CoR (certificate of registration) for these firms adheres to the guidelines for unregistered CICs that no longer require a certificate. However, the appeal from Tata Sons for de-registration as a CIC remains unresolved, potentially affecting the classification of this diversified conglomerate as an upper-level NBFC.

In addition to these two companies, the RBI also revoked the registration for HDFC Holdings following its merger with HDFC Bank. Four other NBFCs, including Guru Kirpa Finvest and Purvanchal Investment And Trading Company, have relinquished their CoRs as they exit the non-banking financial institution sector. Meanwhile, Krishna Capfin's certificate of registration has been restored after a reconsideration by the Appellate Authority.