Sahara group firm exits NBFC business

Sahara group firm exits NBFC business
PTI
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First Published: Fri, Sep 12 2008. 04 35 PM IST
Updated: Fri, Sep 12 2008. 04 35 PM IST
Mumbai: Subrata Roy-promoted Sahara India Investment Corporation Ltd (SIICL) has exited the non-banking financial business.
“SIICL, which is one of the group companies belonging to Sahara group, as such cannot transact the business of non- banking financial institutions,” RBI said in a press release on 12 September.
The RBI release said SIICL has voluntarily exited the non-banking financial business and that its certificate of registration has been cancelled as of 11 August.
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First Published: Fri, Sep 12 2008. 04 35 PM IST