Reserve Bank of India today restricted two non—banking financial institutions (NBFIs) from transacting business allegedly for not complying with the operating guidelines and procedures.
The certificate of registration (CoR) of the two NBFI’s —— Tulip Finlease Private Limited & Galaxy Consolidated Finance Limited —— were cancelled by RBI.
The CoR’s of the two companies were cancelled on May 9 and June 6, respectively, according to a public announcement by RBI.
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