<p>The Reserve Bank has cancelled the licenses of six Delhi-based non banking financial companies following which they would not be able to conduct business. <br /><br /></p>.<p>“The Reserve Bank of India has cancelled the certificate of registration of the following non-banking financial companies (NBFCs): GE Strategic Investments India, Profound Exports, Two Brothers Holding, Swank Services Private Ltd, Praxis Consulting and Information Services and Credible Microfinance Ltd,” RBI said in a notification.<br /><br /> Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution, it added.<br /><br />However, the RBI did not provide any reasons for the cancellation of certificate of registration. The licenses of these companies were cancelled on various dates in April, May and June 2014.</p>
<p>The Reserve Bank has cancelled the licenses of six Delhi-based non banking financial companies following which they would not be able to conduct business. <br /><br /></p>.<p>“The Reserve Bank of India has cancelled the certificate of registration of the following non-banking financial companies (NBFCs): GE Strategic Investments India, Profound Exports, Two Brothers Holding, Swank Services Private Ltd, Praxis Consulting and Information Services and Credible Microfinance Ltd,” RBI said in a notification.<br /><br /> Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution, it added.<br /><br />However, the RBI did not provide any reasons for the cancellation of certificate of registration. The licenses of these companies were cancelled on various dates in April, May and June 2014.</p>