In a list published on 10 August, RBI named eight companies which have exited the NBFC business and have surrendered their certificates of registration. Among these was Bharat Nidhi Ltd, which, according to the company’s disclosures, has been trying to surrender the licence for a while now.
Founded in 1942, the company received its NBFC licence in October 2002 and as on 31 March 2022, held 70 million shares in BCCL, a diversified media company that publishes The Times of India. Based in New Delhi, Bharat Nidhi is engaged in the distribution of newspapers and magazines.
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