RBI Cancels Registration of Four NBFCs

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The Reserve Bank of India (RBI) recently announced the cancellation of the Certificate of Registration (CoR) for four Non-Banking Financial Companies (NBFCs). This decision was made under Section 45-IA (6) of the RBI Act, 1934, 

Details of the Cancellation

The following NBFCs have surrendered their CoR:

Exit from NBFC Business

  1. Sicom Investments & Finance Limited (Mumbai, Maharashtra)

    • CoR Issued: September 08, 2006
    • Cancellation Date: April 04, 2025

  2. Pioneer Holdings Private Limited (Mumbai, Maharashtra)

    • CoR Issued: January 06, 2003
    • Cancellation Date: April 24, 2025

  3. Easyaccess Financial Services Limited (Chennai, Tamil Nadu)

    • CoR Issued: December 22, 2008
    • Cancellation Date: April 29, 2025

Cancellation Due to Amalgamation/Merger

  1. Eastern Credit Capital Private Limited (Kolkata, West Bengal)
    • CoR Issued: December 20, 2012
    • Cancellation Date: April 09, 2025

 

Conclusion

As the financial sector continues to evolve, regulatory actions like these play a crucial role in maintaining transparency and efficiency. Businesses and investors should stay informed about such developments to navigate the changing financial environment effectively.

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