Reserve Bank of India said that seven Maharashtra-based Non Banking Financial Institutions -NBFCs have surrendered their registration certificates following which they won't be allowed to transact their financial business. Moreover, RBI has also said that it has cancelled registration certificate of four NBFCs. Out of the seven firms who have returned their licences, six are based in Mumbai and one in Pune. These include, Kolkata-based Neelanjali Engineering and Novoflex Tradecom, Mumbai's Guide Investments and Trading and Pune-headquartered Enol Ventures. The RBI has clarified that the henceforth these companies cannot transact the business of non-banking financial institution.