"The RBI has cancelled the certificate of registration of three non-banking financial companies (NBFCs) for carrying on the business of non-banking financial institution," RBI said in a notification.
"Following cancellation of registration certificate, the companies cannot transact the business of non-banking financial institution," it said.
Of the three NBFCs, Vishnu Finance & Investment Private Limited and Margdarsi Investment and Leasing Company Private Limited are based in Hyderabad. Siber Financial Services Private Limited belongs to Vijaywada.
Their main business is receiving deposits under any scheme or arrangement in one lump sum or in installments.
While, NBFIs are a group of institutions catering to various financial requirement. They can be groups of financial institutions, NBFCs or primary dealers (or banks).