The Reserve Bank of India (RBI) has cancelled Certificate of Registration of Datta Finance and Trading Private Limited. In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC):
| Name/ details of the NBFC | Name of the service provider (mobile app) |
| Datta Finance and Trading Private Limited Registered Office Address: K-1/82 Chittaranjan Park, South Delhi, New Delhi, Delhi, India, 110019 CoR No.: B-14.01007 dated March 29, 2000 | 1. KinCash app & DoLoan app – Zest Top One Technology Private Limited 2. ZestCash app – the company’s in-house app |
As such, the above company shall not, hereinafter, transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
The RBI has cancelled the Certificate of Registration (CoR) of the company for violating its guidelines on outsourcing in digital lending. The company had outsourced key decision-making functions — including customer sourcing, due diligence, loan disbursement, loan servicing, loan recovery, and even Know Your Customer (KYC) verification — to a service provider, which goes against RBI’s code of conduct.
Due to these violations, RBI has cancelled Certificate of Registration of Datta Finance and Trading Private Limited.