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CHOLAMANDALAM DBS IS RE-CLASSIFIED AS ND-NBFC |
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Chennai, 15 December 2006: Cholamandalam DBS Finance Limited 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.
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| Cholamandalam DBS received the required clearance from RBI in this regard on 13th December 2006. Cholamandalam DBS had stopped accepting fresh public deposits and renewing public deposits with effect from 1st November, 2006.
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