4 NBFCs surrender licenses; RBI cancels of two others

RBI today said four non-banking financial companies have surrendered their registration certificates following which they would not transact any financial business.
Those surrendering their certificate of registration are Wall Street Finance Company (Mumbai-based), Maruti Finance Pvt Ltd (Hyderabad), JEL Finance & Investments (Hyderabad) and Shrigopal Finance and Investment (Thane).
"As such, these companies cannot transact the business of a Non-Banking Financial Institution", RBI said in a statement.
Separately, RBI said it has cancelled the registration certificate of Sampada Chemicals of Mumbai and Ahmedabad-based Saakshi Securities.
(REOPENS DCM87)
Meanwhile, with a view to encouraging wider participation and retail holding of Treasury Bills, the government, in consultation with RBI, has extended the non-competitive bidding facility to the individuals.

For retail investors, the allocation will be restricted to a maximum of 5 per cent of the aggregate nominal amount of the issue, the RBI said in another notification.
The bills will be issued for a minimum amount of Rs 10,000 and in multiples of Rs 10,000 thereof.
The auction system of RBI (e-kuber) has been configured to enable retail participation in T-Bill auctions, RBI said, adding the facility would be operationalised with effect from August 3.