RBI sent Show Cause Notices to NBFCs for not providing the details of their Principal Officer to the Director of the Financial Intelligence Unit-India. These notices were sent for cancellation of the Registration Certificate due to non-compliance.
Non-banking financial companies have received a number of Show Cause Notices from the Reserve Bank of India, the market regulator.
The notices have been sent to companies that have not communicated the name, the address and the designation of the Principal Officer to the Director of the Financial Intelligence Unit - India as directed for cancelling the Certificate of Registration for non-compliances and violations to continue operating as non-banking financial companies.
In order to comply with the aforementioned norms, non-banking financial companies must register in the following manner.
The following is the process of registration for the Principal Officer:
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
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