India, May 15 -- The Reserve Bank of India has cancelled the Certificates of Registration (CoR) of 150 non-banking financial companies (NBFCs) under Section 45-IA (6) of the RBI Act, 1934, effectively barring them from carrying out non-banking financial business activities.

In a statement, the central bank said the affected entities are no longer permitted to "transact the business of a Non-Banking Financial Institution, as defined under clause (a) of Section 45-I of the RBI Act, 1934."

"The Reserve Bank of India, in exercise of powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies," the RBI said.

Separately, the RBI also announced that ...