RBI Flexes Regulatory Muscle: NBFCs Cancelled, Liquidity Drained, Rupee Defended, Tata Sons Forced to List

₹500 billion — the first tranche of the Reserve Bank of India's massive ₹1 trillion liquidity mop-up via open market operations, executed Wednesday to drain record surplus cash from the banking system.

Money Moves

• RBI cancels five NBFC licenses — The central bank revoked certificates of registration for Dar's Financial Services, Rolta Holding, Vasudeo Securities, Parsoli Corporation, and A C Choksi Financial Services, while eight other NBFCs...