New Delhi. The Reserve Bank of India ( RBI ) said in its notification that 9 NBFCs of the country have surrendered their Certificate of Registration. Ujjivan Financial Services is also included in these NBFCs. The central bank said that these NBFCs have also surrendered their Certificate of Registration.

Why did NBFC take this decision

According to the notification issued by the central bank, 5 of these non-financial institutions have surrendered their COR. All these institutions have exited the non-banking financial institution business. These NBFCs are Wigfin Holdings, Strip Commodity, Allium Finance, Eternity Finvest and Fino Finance.

RBI said that three NBFCs namely Allegro Holdings, Temple Trees Impex & Investment and Hem Financial Services have surrendered their certificates after fulfilling the prescribed criteria. Now they do not require registration.

Ujjivan Financial Services Limited surrendered the CoR as it ceased to be a legal entity due to the amalgamation.