RBI cancels Sahara India Financial Corporation's NBFC registration

 In a fresh jolt to Saharas, Reserve Bank has canceled Sahara India Financial Corporation's certificate of registration as non-banking financial institution (NBFC).

"Following the cancelation of registration certificate, the above company cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934," the central bank said in a statement Indian stock market astrology prediction

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The registration of the Lucknow-headquartered NBFC stands canceled with effect from September 3, it added.

The NBFC was registered in December 1998.

Earlier in July, market regulator Sebi had canceled the registration of Sahara Mutual Fund saying it was no longer 'fit and proper' to carry out this business and ordered transfer of its operations to another fund house Commodity Market Astrology Tips

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Sebi had also canceled the portfolio management licence of a Sahara firm.

Sahara Group chief Subrata Roy is in jail since March 4, 2014.

The group is engaged in a long-running battle with Sebi in a case related to refunds totalling thousands of crores of rupees to investors Jackpot Stocks Trading Tips