RBI cancels registration certificate of 5 NBFCs

The Reserve Bank on Friday said registration certificates of five non-banking financial companies (NBFCs) have been cancelled while two surrendered their certificate to the central bank. The seven entities, RBI said, "cannot transact the business of a non-banking financial institution".

The entities whose certificates were cancelled are Simco Consultants, Lunkad Securities, Rajvir Marketing and Investment, Crystal Investments, and Shri Jaya Investments Agency. The NBFCs which surrendered the certificate are Texas Resources and Vivek Vyapar.

The registration certificates of the two Kolkatta based entities stands cancelled.