The Reserve Bank of India has canceled registration of 22 non-banking financial companies (NBFCs). RBI said it has canceled the certificate of registration of these NBFCs in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. These companies cannot now transact the business of a non-banking financial institution, it said in a statement. NBFCs whose registrations have been canceled include Amazan Capital, Mascot Commerce, Kundan Leasing and Finvest, Raseera Investments, Limtex Impex, Dignity Motors Finance, Akansha Consultancy Services, Bini Commercial Enterprises, Nirankar Investments and Surin Investments. RBI had earlier canceled registration of six other NBFCs.
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