20 NBFCs, including IDFC, surrender CoR; 17 licences cancelled: RBI

The Reserve Bank of India on Friday said 20 non-banking financial companies, including Reliance Commercial Finance and IDFC Limited, have surrendered their certificate of registration (CoR).

Of these, two non-banking financial companies (NBFCs) have surrendered their CoR as they have exited from the non-banking financial institution business. These NBFCs are Manoway Investments Private Limited and Reliance Commercial Finance Limited.

IDFC Ltd, IDFC Financial Holding Company Ltd and other 16 entities surrendered the CoR as it ceased to be a legal entity due to amalgamation or merger.

Besides, the RBI cancelled the CoR of 17 NBFCs, the central banks said in another statement.

These NBFCs whose licences were cancelled had their registered office in West Bengal.

In a separate statement, RBI said it has restored the licence of Kamdhenu Finance Company Pvt Ltd after considering the orders passed by the Appellate Authority/Courts.