The Reserve Bank of India (RBI) has cancelled the certificate of registration of Lipi Mercantile, the non-banking financial company (NBFC) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
Following cancellation of registration certificate, the company cannot transact the business of non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
The company has not surrendered the original Certificate of Registration to the Bank. Public is hereby cautioned against the misuse of the Certificate of Registration.