RBI cancels registration certificate of two NBFCs

The above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

RBI cancels registration certificate of two NBFCs
RBI cancels registration certificate of two NBFCs

New Delhi: The Reserve Bank of India on August 8, 2022, canceled the Certificate of Registration of two following companies including Alarming Finvest Private Limited, and Achal Finance Limited.

The cancellation for Alarming Finvest was issued on December 06, 2000, and Achal Finance on July 28, 2017.

According to India's central bank (RBI), the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.