RBI to borrowing agents: It is advised that the REs (regulated entities) shall strictly ensure that they or their agents do not resort to intimidation or harassment of any kind, either verbal or physical, against any person in their debt collection efforts, the RBI said in a notification.
The Reserve Bank of India has cancelled the Certificate of Registration (CoR) of five Non-Banking Financial Companies (NBFCs). The five NBFCs are UMB Securities Ltd, Anashri Finvest, Chadha Finance, Alexcy Tracon and Jhuria Financial Services.
The non-bank lenders whose registrations were cancelled by the RBI include UMB Securities, Anashri Finvest, Chadha Finance, Alexcy Tracon and Jhuria Financial Services.