Regulating Non-Banking

The Reserve Bank of India has on September 15, 2011 cancelled the certificate of registration No.09.00044 dated March 2, 1998 issued to M/s. Canaan International Creditcap Limited, having its registered office at Plot No. W 4/510, Usmanasahebpet, Stonehousepet, Nellore-524002, Andhra Pradesh for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the company cannot transact the business of a non-banki

The Reserve Bank of India has on September 7, 2011 cancelled the certificate of registration to M/s. J.P.S.K.Holdings Private Limited having its registered office at 15th Floor, Chiranjiv Tower, 43, Nehru Place, New Delhi-110019 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the company cannot transact the business of a non-banking financial institution. By the powers conferred under Section

The Reserve Bank of India has on August 30, 2011 cancelled the certificate of registration No.09.00053 granted on March 3, 1998 to M/s. Cyclo Investments Private Limited having its registered office at No. 7-1-27, Ameerpet, Hyderabad - 500016 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the company cannot transact the business of a non-banking financial institution. By the powers conferred

The Reserve Bank has announced today that banks and Non Banking Financial Companies (NBFCs) would be eligible to sponsor Infrastructure Debt Funds (IDFs), to be set up as Mutual Funds (MFs) and NBFCs. The Securities and Exchange Board of India (SEBI) has amended the (Mutual Funds) Regulations to provide regulatory framework for IDF-MFs by inserting Chapter VI – B to the MF Regulations. The broad parameters for setting up of IDFs under MF and NBFC structures by banks a

It has come to the notice of Reserve Bank of India that some entity, which may be a foreign one, is operating in India and doing NBFI business, including acceptance of deposits, without obtaining a certificate of Registration (CoR) from RBI. The company is misusing the name of RBI by displaying a fake CoR on its web site for collecting deposits from the public. The Bank would like to clarify to the general public that no company / entity by the name, M/s Forex Achieve

The Reserve Bank of India has on April 19, 2011 cancelled the certificate of registration No.B-12.00198 granted on July 26, 2000 to S.K.Capsec Private Limited having its registered office at Dr. Jai Singh Market, Maldahiya, Varanasi for carrying on the business of a non-banking financial institution as the company has voluntarily exited from the business. Following cancellation of the registration certificate the company cannot transact the business of a non-banking f

The Reserve Bank of India has on May 2, 2011 cancelled the certificate of registration No.B-12.00270 granted on December 18, 2000 to Sansun Leasing and Finance Private Ltd., having its registered office at Hotel Kwality Complex, 19, Rajpur Road, Dehradun for carrying on the business of a non-banking financial institution as the company has voluntarily exited from the business. Following cancellation of the registration certificate the company cannot transact the busin

The Reserve Bank of India has on January 4, 2011 cancelled the certificate of registration No.B-14.02377 granted on August 13,, 2001 to M/s. Supra Portfolio Limited having its registered office at 803, Manjusha, Nehru Place, New Delhi-110019 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the company cannot transact the business of a non-banking financial institution. By the powers conferred u

The Reserve Bank of India has on January 7, 2011 cancelled the certificate of registration granted on March 4, 1998 to M/s. Winmore Leasing & Holdings Limited having its registered office at 706, Madhuban Building, 55, Nehru Place, New Delhi-110019 for carrying on the business of a non-banking financial institution as the company has voluntarily exited from the business. Following cancellation of the registration certificate the company cannot transact the busines

The Reserve Bank of India has constituted a Working Group under the Chairmanship of Smt. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) to examine a range of emerging issues pertaining to regulation of the NBFC (non-banking financial companies) sector. The NBFC sector in India has undergone a significant transformation in the past few years and has come to be recognised as a systemically important element of the financial system. T