The Reserve Bank of India (RBI) has cancelled the certificate of registration of Sahara India Financial Corporation, a non-banking finance company, with effect from September 3.
Now, Sahara India Financial Corporation can not conduct the business of a non-banking financial institution, RBI said in a release.
According to report, the central bank took this step in wake of several alleged irregularities and violation of financial rules and regulations by Sahara.
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