ENA Sectors 2018-05-16 06:45:47 <p><strong>New Delhi, May 16 (KNN)</strong> As many as seven Non-Banking Financial Companies (NBFCs) have surrendered their certificates to RBI following which they can no longer transact the business of a Non-Banking Financial Institution.</p> <p>Last week alone 18 NBFCs had closed down with the Reserve Bank of India blacklisting some while some surrendering the certificates of registration themselves to the apex bank.</p> <p>The NBFCs to close down on Tuesday are - Kolkata, West Bengal based Subhlabh Traders Pvt. Ltd; Jammu based Sawhney Financiers Jammu Limited and Daksum Finance Limited; Lucknow, Uttar Pradesh based U.P. Electronics Corporation Limited; New Delhi based Snam Investments Private Limited; Ahmedabad, Gujarat based Torrent Private Limited; and Mumbai, Maharashtra based Brandon &amp; Company Pvt. Ltd.</p> <p>These NBFCs have surrendered the Certificate of Registration granted to them by RBI.</p> <p>RBI said these companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934. <strong>(KNN Bureau)</strong></p> 19837 http://knnindia.co.in/news/newsdetails/sectors/25-nbfcs-close-down-in-may-alone 2018-05-16 06:45:47 knnindia.co.in