The Reserve Bank of India (RBI) on Thursday canceled the registration certificates of four non-banking financial companies (NBFCs) belonging to West Bengal and Chandigarh. According to PTI news, these companies include West Bengal-based Game Investments & Trading Company Pvt Ltd, Wistar Financials and Ambika Barter Pvt Ltd, and Chandigarh-based Shree Lakshvi Financial Services Ltd, the RBI statement said.
These NBFCs surrendered their certificates
This action has been taken in accordance with the powers vested in RBI under Section 45-IA (6) of the RBI Act, 1934. Additionally, four other NBFCs have submitted their certificates. These include Yg Capital Limited, which returned its certificate of registration due to its exit from the business of non-banking financial institution. Intell Invofin India Private Limited surrendered its registration certificate as an unregistered core investment company due to not meeting the prescribed criteria.
Gangotri Commodities & Finvest Pvt Ltd and Perkin Dealers Pvt Ltd surrendered their certificates as the respective NBFCs ceased to exist as a legal entity either due to merger/amergum/dissolution/voluntary strike-off.
Also imposed a fine of ₹13,000
The RBI also imposed a fine of ₹13,000 on Cooperative Urban Bank Ltd, Paralkhemundi, Odisha on Thursday. The action has been taken in defiance of the directions issued by the RBI as the bank had undertaken capital expenditure without prior approval and had failed to submit credit information of its customers to all four credit information companies, the official statement said. Let us tell you, RBI reviews NBFCs and co-operative banks from time to time and also takes action if necessary.
Reserve Bank injects liquidity of Rs 50,000 crore
Reserve Bank injects liquidity worth Rs 50,000 crore through OMO The Reserve Bank of India (RBI) on Thursday purchased government securities under Open Market Operation (OMO), thereby infusing fresh liquidity of Rs 50,000 crore into the system. According to the RBI statement, a total of Rs 1,11,615 crore was withdrawn from the market against the notified amount of Rs 50,000 crore. Bids of Rs. 10,000 were received, i.e. over-subscription was approximately 2.23 times. This reflected the huge demand for additional liquidity in the market. This was the first OMO purchase auction of this month.
Let us tell you that in the beginning of December itself, RBI had announced OMO purchase of a total of Rs 1 lakh crore in two phases — the first phase on December 11 (today) and the second phase on December 18, 2025, Rs 50,000 crore each. OMO purchase simply means that the central bank puts cash in the hands of banks and other institutions by purchasing government bonds from the open market, which increases liquidity in the banking system and reduces pressure on interest rates. It is clear from the successful bid that the market still needs more liquidity. Now all eyes are on the next auction on December 18.
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