Current Affairs - Banking - Discussion

The Reserve Bank of India cancelled the certificate of registrations of as many as 31 non-banking finance companies (NBFCs) for unspecified reasons. A majority 27 of the 31 companies which lost their licences are from Bengal. Bengal is followed by Uttar Pradesh, which has seen four NBFC licence cancellations. A majority of voluntary application for licence cancellation are also from Bengal. This can be seen from the fact that it also cancelled the certificate of registrations of 17 NBFCs following a request by them for the same.