Among those that surrendered their certificates are PhonePe Technology Services and Aditya Birla Finance. PhonePe Technology Services returned its NBFC-AA certificate, while Aditya Birla Finance exited after merging with its parent company, the central bank said in a statement.
Additionally, the RBI restored the registration of two NBFCs—RBG Leasing and Credit and Yashila Investment and Finance Company—after reviewing orders from appellate authorities and courts. The regulator directed both firms to comply with applicable guidelines, reporting norms, and other provisions.
The nine NBFCs that surrendered their registration include The Ashok Construction & Investment Company, Smartlink Holdings, and PhonePe Technology Services, among others.
The Reserve Bank of India (RBI) cancelled the certificates of registration (CoR) of several NBFCs for different reasons. The CoR of The Ashok Construction & Investment Company, Smartlink Holdings, and PhonePe Technology Services was cancelled due to their exit from the Non-Banking Financial Institution (NBFI) business.
Meanwhile, P.L. Finlease and Far East Software Services had their registration cancelled as they met the criteria prescribed for unregistered Core Investment Companies (CICs) that do not require registration.
Additionally, the CoR of Shraddha Vyapaar, Aditya Birla Finance, Janki Textile and Industries, and Kasturi Enclave was cancelled as these entities ceased to exist due to amalgamation, merger, dissolution, or voluntary strike-off.
