Nine NBFCs Surrender Registration to RBI

The Reserve Bank of India announced that nine non-banking financial companies, including Ujjivan Financial Services, surrendered their registration certificates. Five NBFCs exited the business entirely, while three met criteria for unregistered Core Investment Company status. Ujjivan Financial Services ceased to exist due to amalgamation.

The Reserve Bank of India (RBI) announced on Tuesday that nine non-banking financial companies (NBFCs), including Ujjivan Financial Services, have surrendered their certificates of registration (CoR) to the central bank.

RBI revealed that out of these nine NBFCs, five decided to exit the non-banking financial institution business altogether. These companies include Vigfin Holdings, Strip Commodeal, Allium Finance, Eternite Finvest, and Fino Finance.

Additionally, the RBI mentioned that three NBFCs—Allegro Holdings, Temple Trees Impex and Investment, and Hem Financial Services—surrendered their CoRs after fulfilling the criteria for unregistered Core Investment Company (CIC) status, which does not require registration.

In a separate note, Ujjivan Financial Services Ltd has also relinquished its registration, as it ceased to be a legal entity following an amalgamation process.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)