RBI cancels NBFI registration certificate of Maruti Securities

The Reserve Bank today said it has cancelled Maruti Securities’ registration certificate for carrying on business of a non-banking financial institution (NBFI).

“The Reserve Bank of India has on June 13,2012 cancelled the certificate of registration issued to Maruti Securities Limited for carrying on the business of a non-banking financial institution as the company has voluntarily exited from carrying on NBFI activities,” RBI said in a notification today.

With the powers conferred under the Reserve Bank of India Act,1934,the apex bank can cancel the registration certificate of a non-banking financial company.