Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Datta Finance and Trading Pvt Ltd, a Delhi-based non-banking financial company (NBFC), due to irregular lending practices, violating regulatory guidelines. The cancellation, exercised under Section 45-IA (6) of the RBI Act, 1934, means the company can no longer carry out the business of a NBFC. Datta Finance and Trading, incorporated in March 2000, was operating through multiple digital platforms, including KinCash and DoLoan apps run by Zest Top One Technology Pvt Ltd and its own ZestCash app. According to RBI, the company violated the code of conduct on outsourcing of financial services by delegating critical decision-making functions to third-party service providers. These functions inc

See Full Page