RBI cancels licences of 5 NBFCs, 8 others surrender registrations

The Reserve Bank of India (RBI) on Thursday cancelled the certificates of registration of five (NBFCs), while eight other NBFCs surrendered their registrations for various reasons, the central bank said in a release.

The RBI cancelled the licences of , , Vasudeo Securities, and A C Choksi Financial Services.

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Separately, Anupam Mercantile, Grand Motor and Finance, Sky Limit International Finance and ASA International India Microfinance surrendered their licences after exiting the Non-Banking Financial Institution (NBFI) business.

Shivam Securities Pvt Ltd and April Investment and Finance Pvt Ltd surrendered their licences after ceasing to be legal entities due to amalgamation, merger, dissolution or voluntary strike-off, the RBI said.

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Anagram Industries surrendered its licence after meeting the criteria prescribed for an unregistered (CIC) that does not require registration.

CDN Finance surrendered its licence after meeting the criteria prescribed for an unregistered Type I NBFC that does not require registration, according to the RBI release.