RBI cancels Certificate of Registration of Acemoney (India) Limited due to irregular lending practices
As such, the company shall not transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934.
The Reserve Bank of India in a recent circular as per the exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration (CoR) issued to the Acemoney [India] Non-Banking Financial Company (NBFC).
As such, the above company shall not transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934.
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The following services and apps of the NBFC like, ActLoan, AgMoney, NiceCash, CashLender, QuickRupee, leading cash, TopCash, CreditEasy, InhanCash, KeyBorrow, Rushloan, CaymanCash, Loan Union, instant loan, Urupee, CashYes, RupeeUp, RupeeYes, Cashfull, Dreamloan, Grandloan, HopeLoan, KreditLoan, Leloloan, LendNow, PunchMoney, RocLoan, RupeeGo, HavCash, QuickCash, Cashere, Cash delivery, BusyAnt, Cash Dove are prohibited through operations.
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