Nine non-banking finance companies, including Ujjivan Financial Services and Fino Finance, have given up their licenses for various reasons, such as Ujjivan becoming a legal entity after merging with Ujjivan Small Finance Bank and Fino exiting the NBFC business. Four lesser-known entities did the same, Allegro Holdings, Temple Trees Impex & Investment, Hem Financial Services surrendered their licenses as they met the criteria for unregistered Core Investment Company (CIC) status.
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