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Sambandh Finserve's Licence
April 28 , 2021
1179 days
973
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- Reserve Bank of India (RBI) has issued a show-cause notice prior to cancelling the licence of fraud-hit Sambandh Finserve Pvt Ltd.
- This notice is given after its net worth eroded below the regulatory minimum and financial situation worsened beyond redemption over the recent months.
- Sambandh is registered as an NBFC-MFI.
- According to the RBI norms, NBFC is required to maintain minimum capital levels consisting of Tier-I and Tier-II capital, of not less than 15 per cent of their aggregate risk-weighted assets.
- Sambandh Finserve Private Limited was founded in 1992.
- Its Headquarters is in Odisha.
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