RBI cancels registration certificate of AP Tourism

Mumbai, June 16 (UNI) The Reserve Bank of India has cancelled the certificate of registraation granted to AP Tourism Finance Limited, Hyderabad for carrying out the business of a non-banking financial institution.

As the company had opted to exit from the non-banking business, the RBI has cancelled the registration certificate effective from May 15 under the powers conferred by section 45-IA (6) of the RBI Act 1934.

Following the cancellation of registration certificate, AP Tourism Finance Limited could not transact the business of a non-banking financial institution, an RBI release said here today.

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