1,701 NBFC licences cancelled in FY19 as RBI cracks the whip3 min read 11 Jul 2019, 01:02 AM IST
The licences have been cancelled for failing to meet minimum capital norms. In FY18, just 26 NBFCs lost their licences
While NBFCs can exist after they lose their licences, they gradually die being unable to raise money
Mumbai: The Reserve Bank of India (RBI) cancelled licences of 1,701 non-banking financial companies (NBFCs) in the year ended 31 March for failing to meet minimum capital requirements, according to data compiled by Mint.
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