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Journalism of Courage
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.
