RBI cancels certification of registration of Vikas Profin Ltd

Mumbai, dec 26 (UNI) The Reserve Bank of India (RBI) has cancelled the certificate of registration granted to Vikas Profin Limited, New Delhi, having its registered office at Punjabi Bagh, for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of a non-banking financial institution.

Following cancellation of registration certificate, Vikas Profin Limited, cannot transact business of a non-banking financial institution, said an official statement of RBI here today.

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

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