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RBI cancels certificate of registration of NBFC

Press Trust of India  |  Mumbai 

The Reserve Bank today said it has cancelled of registration of Daman based Limited and while another surrendered its certificate.

cannot transact the business of a non-financial institution, the Reserve Bank said.

In another statement, the central bank said based Madhu Muskan Leasing and Financing has surrendered the certificate of registration granted to it by the RBI.

It has cancelled its "Certificate of Registration".

Now, Madhu Muskan Leasing and Financing cannot transact the business of a a non-financial institution.

* * * * ** *

Export Credit Agencies meet held

* As part of the series of events being organised under the chairmanship of of BRICS Forum, the second meeting of Heads of Export Credit Agencies (ECAs) of BRICS was held in yesterday.

The meeting was hosted by ECGC Limited, a export credit agency of

BRICS ECAs are actively involved in facilitating cross- border trade by supporting export credits and foreign investments, the commerce ministry said in a statement today.

The supported more than USD 473 billion of exports from the member countries.

"Members exchanged notes about various credit insurance products, business sectors and major destinations covered by the group," it said.

They also discussed business trends and the rising defaults and claims in the light of heightened political and economic risk, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 21:32 IST