Swastik Safe Deposit & Investments Ltd — Updates, 29-04-2025: Company Update

The Swastik Safe Deposit & Investments Limited has submitted an Exception Report indicating that it no longer meets the Principal Business Criteria as outlined by the Reserve Bank of India (RBI) for Non-Banking Financial Companies (NBFCs). The company's financial income is below 50% of its gross income, disqualifying it from maintaining NBFC status. As a result, the company plans to approach the RBI to surrender its NBFC licenses, indicating a significant shift in its operational capabilities and regulatory standing. This development may impact stakeholders' perceptions and future operations of the company.