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Which of the following has the power to cancel the Certificate of Registration (CoR) issued to mobile app-based lending operators, for their illegal lending activities?
  • a)
    Ministry of Finance
  • b)
    Ministry of Science and Technology
  • c)
    Ministry of Home Affairs
  • d)
    Reserve Bank of India
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which of the following has the power to cancel the Certificate of Regi...
The Reserve Bank cancelled the Certificate of Registration (CoR) issued to P C Financial Services Pvt Ltd, New Delhi, which was primarily engaged in mobile app-based lending operations through an app called ‘Cashbean’.
The RBI said the CoR of the company has been cancelled on account of supervisory concerns such as gross violations of RBI directions on outsourcing and know your customer norms.
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Which of the following has the power to cancel the Certificate of Registration (CoR) issued to mobile app-based lending operators, for their illegal lending activities?a)Ministry of Financeb)Ministry of Science and Technologyc)Ministry of Home Affairsd)Reserve Bank of IndiaCorrect answer is option 'D'. Can you explain this answer?
Question Description
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