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The Reserve Bank said it has cancelled Maruti Securities’ registration certificate for carrying on business of a non-banking financial institution (NBFI).

“The Reserve Bank of India has on June 13, 2012 cancelled the certificate of registration issued to Maruti Securities Limited…for carrying on the business of a non-banking financial institution as the company has voluntarily exited from carrying on NBFI activities,” RBI said in a notification. With the powers conferred under the Reserve Bank of India Act, 1934, the apex bank can cancel the registration certificate of a non-banking financial company.

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