News
RBI Cancels Registration of Five Non-Banking Financial Companies
The Reserve Bank of India has cancelled the registration certificates of five NBFCs, stopping them from doing financial business.
- Reviewed by
- Shravya Mishra
- Published
This brief was drafted with the help of an AI system from the official source listed below, then checked against that source and approved by Shravya Mishra before publication. How we work.
What happened
The Reserve Bank of India (RBI) used its powers under the Reserve Bank of India Act, 1934, to cancel the registration certificates of five companies. These companies are Dar's Financial Services Pvt Ltd based in Kolkata, Rolta Holding and Finance Corporation Private Limited based in Mumbai, Vasudeo Securities Pvt Ltd based in Mumbai, Parsoli Corporation Limited based in Mumbai, and A. C. Choksi Financial Services Pvt. Ltd. (known in MCA records as Deus Financial Capital Private Limited) based in Mumbai. Because their certificates are cancelled, these firms can no longer "transact the business of a Non-Banking Financial Institution".
What it means for you
A Non-Banking Financial Institution (NBFC) provides financial services like loans and credit to customers. With their registration cancelled, these five specific companies lose their legal permission to carry out any NBFC business activities. The announcement does not mention what existing customers should do with their ongoing accounts or loans, nor does it state any further instructions for the general public regarding these specific entities.
What to do
There are no specific actions mentioned in the announcement for readers. If you currently hold any accounts, deposits, or loans with any of these five named companies, you should contact the respective company directly through its official channels to understand how this cancellation affects your money or financial agreements.
Common questions
Which companies have lost their registration?
The companies are Dar's Financial Services Pvt Ltd, Rolta Holding and Finance Corporation Private Limited, Vasudeo Securities Pvt Ltd, Parsoli Corporation Limited, and A. C. Choksi Financial Services Pvt. Ltd. (Deus Financial Capital Private Limited).
Can these companies still operate as financial institutions?
No, the announcement states that these companies shall no longer transact the business of a Non-Banking Financial Institution.
Sources
- Reserve Bank of India: RBI cancels Certificate of Registration of 5 NBFCs
This is general information for education, not investment, tax or legal advice. Rules and rates change; check the official source before acting. Read the full disclaimer.
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