Sahara stares at bleak future after RBI cancels its para-banking license
Sahara Stares At Bleak Future After RBI Cancels Its Para-Banking License. The cancellation of Sahara India\'s para-banking license by the Reserve Bank of India .
Lucknow: The cancellation of Sahara India's para-banking license by the Reserve Bank of India (RBI) has sent the multi-million rupee conglomerate here into a tailspin.
While the company has been in hot water for some time now, the development is being seen by both insiders and observers outside as a "major blow" to the company, whose chairman Subrata Roy 'Sahara' has been languishing in Tihar jail for more than a year now.