RBI cancels registration of two NBFCs
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The Reserve Bank of India (RBI) today said it has cancelled registration of two non-banking financial companies — Emcorp Finance Ltd andCare 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. (PTI)
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