RBI cancels licences of 368 NBFCs in first half of 2018
The RBI has cancelled licences of 368 non-banking financial companies (NBFCs) in the six months ended June, for failing to meet regulatory norms.
Most of these NBFCs with a net owned fund of less than ₹ 2 crore were not economically viable.
Did you Know
Muthoot Finance Ltd is India's first NBFC.