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RBI cancels certificate of registration of three NBFCs; six other firms surrender licences NBFCs are companies which raise money from banks or the market and lend to their borrowers at a higher rate. January 07, 2021 / 06:17 PM IST While the CoS was functioning in a limited way in virtual mode since May 2020, it is now being fully operationalised. The Reserve Bank of India (RBI) on January 7 cancelled the certificate of registration of three non-banking finance companies (NBFCs). These are Uttar Pradesh-based Abhinav Hire Purchase Limited, Gurgaon-based Jupiter Management Services Private Limited and Assam-based N.E Leasing and Finance Pvt Ltd. “As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934,” the RBI said. ....