The Reserve Bank of India (RBI) has taken major action against PC Financial Services Pvt Ltd for disobeying instructions. The central bank has canceled its certificate of registration. Now it will not be able to do any kind of transaction.
transaction ban
According to a report issued in this regard, "This action has been taken in exercise of the powers conferred under Section 45-IA (6) (iv) of the Reserve Bank of India Act, 1934. RBI issued a notice to M/s PC Financial Services Pvt Ltd. The Certificate of Registration (COR) has been cancelled. It will not transact as an NBFI since then. The RBI said in a statement issued by the RBI regarding this action. was found to be indulging in arbitrarily charging high-interest rates and other charges from its borrowers.
Action is taken for violation of rules
According to the report, the reason behind this action has been cited as the unauthorized use of the logo of the central bank and CBI and charging high-interest rates as well as violation of several rules. Let us inform you that PC Financial Services was primarily associated with mobile app-based lending operations through an app called 'CashBean'. The central bank said that the company's CoR has been canceled for violation of RBI guidelines on outsourcing and KYC.
Aamir Khan was shocked by the sudden death of Zubeen Garg and made this emotional post in grief.
Singer Zubeen Garg, who cast a spell with his voice in Assam and Bollywood, is no more. He passed away suddenly on September 19th. His death dealt a significant blow to the music industry. Fans and
Apple WWDC 2022: Apple launches new MacBook Air with M2 processor, know the features
Apple WWDC 2022: Apple has introduced iOS 16 for its iPhone customers, making several major changes during the annual Worldwide Developers Conference (WWDC) event. Along with this, Apple has also
Shreyas Iyer: 'He replied to my message...' Suryakumar Yadav shared information about Shreyas's health; revealed his condition.
Indian T20 captain Suryakumar Yadav has provided information on Shreyas Iyer's health. Ahead of the five-match T20 series against Australia, starting Wednesday, Suryakumar confirmed that Shreyas is
BCCI Central Contracts: Team India's central contract was released, these players including Rahane and Pujara got a setback
BCCI has announced its annual central contract. In this, captain Rohit Sharma, Virat Kohli along fast bowler Jasprit Bumrah have been kept in the top grade in A+. At the same time, Cheteshwar Pujara
Garba thrashing: Non-Hindus entered Ahmedabad's pandal, VHP investigated and caught and thrashed
After the warning of Hindu organizations not to allow non-Hindus to enter Garba pandals during the ongoing Navratri festival across the country, cases of assault have started coming to the fore. VHP
The country did not benefit from the early monsoon: stuck in Karnataka for 8 days; No pre-monsoon rains, so Lu returned
Monsoon arrived in the country, it was 3 days early, but now it is stuck around Karwar in Karnataka for 8 days. Chances of it moving rapidly for the next 4-5 days are also less. Therefore, it may
Angipath Scheme: Agniveers will get job in Haryana government with guarantee, big announcement of CM Manohar Lal
Haryana Chief Minister Manohar Lal made a big announcement in Bhiwani on Tuesday. In the state-level function organized in Bhiwani on the 8th International Yoga Day, he said that all the retired
Demand for the removal of President Xi Jinping from the post rising in China, and protests are happening in a dozen cities
In China, there have been protests many times in different parts of the country regarding President Xi Jinping's zero covid policy and anti-Tibet policies. These two issues were also the reason for
Arvind Kejriwal reached SC against the decision of the Delhi High Court, a petition was rejected yesterday
Arvind Kejriwal has moved the Supreme Court against the High Court's decision in the liquor scam. On Tuesday, the Delhi Chief Minister's plea against the arrest and subsequent ED remand was rejected.
New York Firing Case: Main accused in New York mass shooting convicted of murder and terrorism
Peyton Gendron, the 19-year-old suspect in the shooting incident at a supermarket in the city of Buffalo, New York, has been convicted of murder and terrorism. The BBC reported that New York does not
