7 NBFCs suspended by RBI

Q.  How many Non Banking Financial Companies (NBFC) have been suspended by the orders issued by RBI under RBI Act, 1934?
- Published on 31 Aug 15

a. 2
b. 5
c. 7
d. 10

ANSWER: 7
 
The Reserve Bank of India (RBI) has suspended licences of seven non-banking financial companies (NBFCs), some for being dormant and some for either not carrying out its principal business or not fulfilling various norms including minimum net owned funds. The seven NBFCs whose licences were suspended are Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks & Securities and Swetasree Finance.

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