Subrata Roy-promoted Sahara India Investment Corporation Ltd has exited the non-banking financial business.
"SIICL, which is one of the group companies belonging to Sahara group, as such cannot transact the business of non- banking financial institutions," RBI said on Friday.
The RBI release said SIICL has voluntarily exited the non-banking financial business and that its certificate of registration has been cancelled as of August 11, 2008.
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