Cfl Capital Gives Up Its Primary Dealer Licence

CFL Capital Financial Services Ltd, an RPG Enterprises outfit, has abandoned its primary dealership (PD)activity following its failure to renew the license from the Reserve Bank of India (RBI).

In the beginning of 2001-02, CFL spun off the PD business into a subsidiary, Ceat Gilts and Bonds Private Ltd.

But the apex bank did not accord final approval for hiving off the business and also did not renew the licence for continuation of the activity due to the deteriorating environment in the financial services industry in general and the company