The Reserve Bank recently said it has cancelled registration of two non-banking financial companies — Emcorp Finance Ltd and Care Credit and Investments Company Pvt Ltd.
“Following cancellation of the registration certificate the companies cannot transact the business of a non-banking financial institution,” the RBI said.
Certificate of registration of Chennai-based Emcorp Finance was cancelled on December 3, while that of Coimbatore- based Care Credit and Investments Company was cancelled on December 10.
The RBI, however, did not provide reasons behind cancellation of the certificates of registration.
http://businesstoday.intoday.in/story/rbi-cancels-registration-of-two-nbfcs/1/191346.html
