Cholamandalam DBS is re-classified as ND-NBFC

Cholamandalam DBS Finance Ltd has announced that the Company has now obtained a new Certificate of Registration from RBI as Non Deposit - Non Banking Financial Company (ND-NBFC). This was further to the approval from the Board of Directors in October 06, to exit out of public deposits and apply for a new status as ND-NBFC.

The Company received the required clearance from RBI in this regard on December 13, 2006. The Company had stopped accepting fresh public deposits and renewing public deposits with effect from November 01, 2006.

Source : Equity Bulls

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