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Thursday, Nov 10, 2005


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RBI cancels Karvy's NBFC licence

Our Bureau

Hyderabad , Nov. 9

THE Reserve Bank of India on Wednesday said that it has cancelled the certificate of registration issued to Karvy Consultants Ltd (KCL) for carrying on the business of a non-banking financial institution.

However, when contacted, the Karvy Chairman and Managing Director, Mr C. Parthasarathy, told Business Line that Karvy Consultants had voluntarily surrendered the licence since it was not doing any NFBC business for the last five years or so.

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