RBI cancels Certificate of Registration of ten non-banking financial company (NBFCs)

The Reserve Bank of India has cancelled the certificate of registration of the following non-banking financial company (NBFCs). Due to cancellation of registration certificate, the company cannot transact the business of non-banking financial institution.

GE Strategic Investments India (GESII)
Profound Exports Private Limited
Two Brothers Holding Limited
Swank Services Private Limited
Praxis Consulting and Information Services Private Limited
Credible Microfinance Ltd. (formerly known as "Credible Securities & Finance Pvt. Ltd.")
Kotasar Limited & United Credit & Development Co. Limited
Om Shridevi Finance and Leasing Limited
Insilco Merchants Private Limited
Deutsche Securities India Pvt. Ltd. (DSIPL)

RBI has announced these 10 canellations of NBFCs in month of July 2014

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