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RBI cancels registration of 65 NBFCs – Due to non-maintenance of minimum capital

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Unlike the general media reports (CLICK TO OPEN), RBI has not canceled the registrations of the NBFC’s due to Unspecific reasons

BUT

DUE TO NON-COMPLIANCE SPECIFICALLY WITH THE MINIMUM CAPITAL REQUIREMENTS AS PER SECTION 45-IA OF THE RESERVE BANK OF INDIA ACT, 1934.

 

Following are the Links of the notifications issued by RBI on 16-11-2018 mentioning the reasons for cancellation for reference(s): (click to open)

 

  1. RBI NBFC registration cancellation notice – 1

  2. RBI NBFC registration cancellation notice – 2

  3. RBI NBFC registration cancellation notice – 3

  4. RBI NBFC registration cancellation notice – 4

 

RBI follows strict policies and procedures before the cancellation of any certificates of registrations:

 

  1. Regular (periodic) notices are sent to the registered offices and registered emails of the non-compliant NBFC’s;

  2. Show cause notices are issued to these NBFC’s seeking the reason as to why the NBFC’s shall not be canceled;

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Corpseed Admin