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    Question

    Recently RBI cancels registration of five NBFCs due to

    irregular lending practices, which of the following NCFC is not in that five?
    A UMB Securities Ltd Correct Answer Incorrect Answer
    B Umang Financial Services Pvt Ltd Correct Answer Incorrect Answer
    C Anashri Finvest Ltd Correct Answer Incorrect Answer
    D Chadha Finance Ltd Correct Answer Incorrect Answer
    E Alexcy Tracon Pvt Ltd Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of five non-banking finance companies (NBFCs) due to irregular lending practices, including charging excessive interest rates and harassment of customers for loan recovery. The five NBFCs whose CoR have been cancelled are UMB Securities Ltd, Anashri Finvest Ltd, Chadha Finance Ltd, Alexcy Tracon Pvt Ltd, and Jhuria Financial Services Pvt Ltd.

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