Home Minister Dilip Walse Patil meets our reporters with police top brass to probe all recovery harassment cases clubbed together and show results in 10 days
The Reserve Bank of India has cancelled the Certificate of Registration (CoR) of five Non-Banking Financial Companies (NBFCs). The five NBFCs are UMB Securities Ltd, Anashri Finvest, Chadha Finance, Alexcy Tracon and Jhuria Financial Services.
"These companies were also not complying with the extant regulations pertaining to charging of excessive interest and had resorted to undue harassment of customers for loan recovery purposes," RBI added.
Registration of five NBFCs canceled by RBI due to irregular lending practices - The CoR have been cancelled on account of violation of RBI guidelines on outsourcing and Fair Practices Code in their digital lending operations.