RBI cancels Sahara India Financial Corporation’s NBFC registration

178

RBIThe 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.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for Elets BFSI Gamechanger Summit, Goa and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.