RBI cancels 4 NBFC registrations, 4 others surrender certificates

• RBI cancelled the registration of four Non-Banking Financial Companies (NBFCs) from West Bengal and Chandigarh.
• The cancelled NBFCs include Gem Investments & Trading Co Pvt Ltd, Vistar Financiers, Ambica Barter Pvt Ltd, and Shri Lakhavi Financial Services Limited.
• Four other NBFCs surrendered their certificates due to reasons like exiting the business, meeting unregistered CIC criteria, or ceasing to be a legal entity.
• The central bank also imposed a fine of Rs 13,000 on The Co-operative Urban Bank Limited, Odisha, for non-compliance with RBI directions.

Why It Matters: RBI's actions ensure financial sector stability and compliance.