The Reserve Bank of India said on Monday that 22 NBFCs, including BNP Paribas India Finance, Swiss Leasing and Finance and Available Finance, had surrendered their certificates of registration. The central bank canceled its certificate of registration (CoR) because it returned it.
With the cancellation of the CoRs, these 22 entities can no longer carry on the business of a Non-Banking Financial Company (NBFC), the RBI said in a statement. In the meantime, Essel Finance Home Loans Limited waived the CoR granted to it by the National Housing Bank and subsequently it was cancelled.
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With this, Essel Finance Home Loans can neither carry on the business of a housing finance institution nor a non-banking financial institution, he added. In a separate statement, the central bank announced that it had canceled the CoR of Karnawati Capital Market Ltd.
(Edited by : Anand Singha)