REGULATING NON-BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country’s financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.

Press Release

(326 kb)

Date : Oct 16, 2024

RBI cancels Certificate of Registration of Two NBFCs

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

Sr. No.	Name of the Company	Registered Office Address	CoR No.	CoR Issued On	Cancellation Order Date
1	Heewan Finance Limited	Shop No. 4, Plot No. 35, Yard No. 6, Transport Nagar, Narwal, Jammu and Kashmir - 180006	B-1100065	March 13, 2012	September 11, 2024
2	High Growth Credit Services Limited	D-9, Sector-3, Noida, Uttar Pradesh – 201301	B-12.00208	August 31, 2000	September 13, 2024

As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/1307

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