Reserve Bank of India (RBI) on Wednesday cancelled certificates of registration of five non-bank financiers

Reserve Bank of India (RBI) on Wednesday cancelled certificates of registration of five non-bank financiers citing violation of guidelines on outsourcing and fair practices code in their digital lending operations through third-party apps

The non-bank lenders whose licences were cancelled by RBI on Wednesday include, UMB Securities Ltd, Anashri Finvest Ltd, Chadha Finance Private Ltd (now known as Chadha Finance Ltd), Alexcy Tracon Pvt Ltd and Jhuria Financial Services Pvt Ltd.