The Reserve Bank of India has cancelled the certificate of registration granted to APS Hire Purchase in Uttar Pradesh for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the companies cannot transact the business of a non-banking financial institution.

RBI also cancelled the certificate of registration granted to DHP Leasing in Amritsar for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate the companies cannot transact the business of a non-banking financial institution. It has also been prohibited from accepting any deposits with immediate effect from any person in any form whether by way of renewal or otherwise until further orders and also from alienation of its assets without prior written permission of the bank.