Business News | RBI Cancels Registration of 13 NBFCs, 11 Based in West Bengal
Get latest articles and stories on Business at LatestLY. The Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoRs) of 13 Non-Banking Financial Companies (NBFCs), including 11 registered in West Bengal, barring them from carrying out non-banking financial business, according to an official press release issued on Friday.
Mumbai (Maharashtra) [India], October 9 (ANI): The Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoRs) of 13 Non-Banking Financial Companies (NBFCs), including 11 registered in West Bengal, barring them from carrying out non-banking financial business, according to an official press release issued on Friday.
The central bank said it had cancelled the registrations "in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934."
Of the 13 NBFCs, 11 have registered offices in West Bengal, while the remaining two are based in Tamil Nadu. The cancellation orders were issued on various dates in September 2026.
Among the companies whose registrations were cancelled are Nakodar Finance, Ajitnath Steels, Astrol Dealcom, Bhagyashri Trading, Booh Finance Company and Britex Financial Services.
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The RBI also cancelled registrations of Sajili Vinimay, Bhumika Fiscal Services, Blue Mount Exports, Delta Capital Market, Rajesh Fiscal Services, Sarla Finance and Shreyans Vyapaar.
Clarifying the implications of the action, the central bank said the companies "shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934."
In a separate press release issued on Friday, the RBI announced that 10 NBFCs had surrendered their Certificates of Registration for reasons including exit from the business, changes in regulatory classification and cessation of legal existence.
Of these, six companies surrendered their certificates due to their exit from the non-banking financial institution business.
These include Pragati Fincap, Rajlakmi Vanijya, Vivriti Capital, MSJ Colonising and Leasing Company, PKSL Investment and HCL Corporation.
The RBI said it had cancelled the surrendered certificates under Section 45-IA (6) of the RBI Act, 1934.
Another company, PCR Investments, surrendered its registration after meeting the criteria for classification as an unregistered Core Investment Company (CIC), which does not require registration under the RBI Act.
Similarly, Aparna Investment surrendered its certificate after meeting the criteria for classification as an unregistered Type I NBFC.
The remaining two companies, Vandana Griha Nirman and Ramsisaria Builders, surrendered their certificates under the category covering entities that cease to exist legally following amalgamation, merger, dissolution or voluntary strike-off.
Both RBI announcements were issued on October 9, while the cancellation dates listed in the releases fall in September 2026. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)