Sahara group firm exits NBFC business

Subrata Roy-promoted Sahara India Investment Corporation Ltd (SIICL) has exited the non-banking financial business.     

"SIICL, which is one of the group companies belonging to Sahara group, as such cannot transact the business of non- banking financial institutions," RBI said in a press release today.     

The RBI release said SIICL has voluntarily exited the non-banking financial business and that its certificate of registration has been cancelled as of August 11, 2008.