The Swastik Safe Deposit & Investments Limited's Non-Banking Financial Company (NBFC) registration has been cancelled by the Reserve Bank of India.

This decision followed the company's voluntary request to cease its NBFI business.

The RBI noted the company had stopped NBFI activity and its financial income, at 28.74%, was below the required 50% of gross income.

Its financial assets were 97.19% of total assets.

Consequently, the company can no longer operate as an NBFC.

It plans to shift its business focus to investing in non-financial assets and trading activities, with intentions to register as a stockbroker.