Question
Recently RBI cancels registration of five NBFCs due to
irregular lending practices, which of the following NCFC is not in that five?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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