Motor & General Finance has decided to voluntarily surrender Certificate of Registration to Reserve Bank of India (RBI) which was being held in category ‘B’ i.e. Non Accepting Deposits Non Banking Finance Company and is no longer NBFC. The company has taken this step as it has not been doing any NBFC activities for quite some time. The board of directors of the company has accorded for the same.
Motor & General Finance (MGF) the flagship company of MGF Group was incorporated in 1930. It is one of the oldest finance companies of India. MGF gave India its first impression of automobiles, hire purchase for financing the commercial vehicles.
