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The Reserve Bank of India announced the cancellation of the certificate of registration of (CoR) of five non-banking finance companies (NBFCs). RBI found these NBFCs carrying out irregular lending practices, including charging high-interest rates and harassing customers for loan recovery.
The Five NBFCs are UMB Securities Ltd, Anashri Finvest Ltd, ChadhaFinance Ltd, Alexey Tracon Pvt LTD. And Julia Financial Services PvtLtd, whose CoR has been cancelled.
RBI cancels the registration of five NBFCs
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