Nine NBFCs surrender their Certificate of Registration to RBI

Nine Non-Banking Financial Companies (NBFCs) have had their Certificates of Registration (CoR) cancelled by the Reserve Bank of India (RBI) under Section 45-IA (6) of the RBI Act, 1934. This includes companies exiting the NBFC business, such as Vigfin Holdings and Fino Finance, and those meeting criteria for unregistered Core Investment Companies, like Allegro Holdings and Hem Financial Services. Additionally, Ujjivan Financial Services was cancelled due to amalgamation. The cancellations are effective between May 6 and May 31, 2024.