RBI cancels registration of three NBFCs

Reserve Bank has cancelled registration of three NBFCs including Escorts Finance and Express Trading & Securities.

The apex bank has also terminated the registration certificate of Jayant Security and Finance.

However, the RBI did not cite any reason behind the cancellation of registrations.

"Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution (NBFI)," the central bank said.

Earlier this month, Escorts Finance had informed the BSE that the RBI had deregistered it.

At times, companies themselves surrender their licences due to various reasons following which the RBI cancels their registration.