RBI cancels registration of Emcorp Finance, Care Credit and ...

Moneylife???Markets???Regulations???RBI cancels registration of Emcorp Finance, Care Credit and Investments

Certificate of registration of Chennai-based Emcorp Finance was cancelled on 3rd December, while that of Coimbatore- based Care Credit and Investments Company was cancelled on 10th December

Mumbai: The Reserve Bank of India (RBI) said it has cancelled registration of two non-banking financial companies (NBFCs)-- Emcorp Finance Ltd and Care Credit and Investments Company Pvt Ltd, reports PTI.

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"Following cancellation of the registration certificate the companies cannot transact the business of a non-banking financial institution," the RBI said.

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Certificate of registration of Chennai-based Emcorp Finance was cancelled on 3rd December, while that of Coimbatore- based Care Credit and Investments Company was cancelled on 10th December.

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The RBI, however, did not provide reasons behind cancellation of the certificates of registration.

Source: http://www.moneylife.in/article/rbi-cancels-registration-of-emcorp-finance-care-credit-and-investments/30588.html

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