The Reserve Bank of India (RBI) on February 24 cancelled the registration of fintech startup, Cashbean for flouting a slew of norms. In a press release , the central bank said that it has nullified the CoR of PC Financial Services (PCFS), for ‘supervisory concerns such as gross violations of RBI directions on outsourcing and Know Your Customer norms.’ The Non-Banking Financial Institution (NBFI) is also in dock for charging exorbitant rates of interest and other charges to its borrowers ‘in an opaque manner.’ The action was also initiated against the NBFI for unauthorised usage of logos of RBI and…