News > RBI cancels certificate of registration of 5 NBFCs
RBI cancels certificate of registration of 5 NBFCs
The Hindu Business Line | 25/05/2022 11:18 PM | Click to read full article
The Reserve Bank has cancelled the certificate of registration issued to five Non-Banking Financial Companies (NBFCs) — UMB Securities and Anashri Finvest (both Bengaluru-based), Chadha Finance (New Delhi), Alexcy Tracon (Kolkata) and Jhuria Financial Services (Guwahati) — due to irregular lending practices.
These companies were also not complying with the extant regulations pertaining to charging excessive interest.
