RBI cancels certficate of registration of 'Pavana Putra'

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Mumbai, Jan 21 (UNI) The Reserve Bank of India (RBI) has cancelled the certificate of registration granted to Bangalore-based M/s Pavana Putra Financial and Investments Limited for carrying on business of a non-banking financial institution.

Under powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934, the RBI can cancel the registration certificate of a non-banking financial institution. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the RBI Act, 1934, a RBI release said.

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