Key Changes in Non-Banking Financial Companies' Registrations
The Reserve Bank announced that nine NBFCs, including PhonePe and Aditya Birla Finance, voluntarily surrendered their registration. Additionally, the registration of 31 NBFCs was canceled. The registration of RBG Leasing and Yashila Investment was restored after favorable court orders. The central bank emphasized compliance with guidelines.
- Country:
- India
The Reserve Bank of India, on Friday, disclosed that nine Non-Banking Financial Companies (NBFCs), such as PhonePe Technology Services and Aditya Birla Finance, have opted to surrender their certificate of registration, citing various reasons.
Furthermore, the central bank reported the cancellation of certificates for 31 NBFCs. PhonePe Technology Services Private Limited specifically gave up its NBFC-AA CoR, while Aditya Birla Finance did so following its merger with its parent entity.
Significantly, the RBI noted that the registrations for RBG Leasing and Credit Private Limited and Yashila Investment and Finance Company Private Limited were reinstated after abiding by judicial rulings. The bank underscored the necessity for these firms to adhere strictly to the relevant norms and directives, including obligatory reporting standards.
(With inputs from agencies.)
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