RBI Cancels 13 NBFC Registrations, 11 Based in West Bengal
The Reserve Bank of India has cancelled the registration of 13 NBFCs, with a heavy concentration of 11 firms based in West Bengal.
In a major regulatory crackdown, the Reserve Bank of India (RBI) has officially cancelled the Certificates of Registration (CoRs) for 13 Non-Banking Financial Companies (NBFCs). This decisive move, aimed at maintaining financial discipline, effectively bars these entities from conducting any non-banking financial business within the country.
The central bank's announcement, released on Friday, highlighted that the action was taken under the powers granted to it by Section 45-IA (6) of the Reserve Bank of India Act, 1934. The crackdown has a significant geographical focus, with 11 of the 13 cancelled companies maintaining their registered offices in West Bengal, while the remaining two are located in Tamil Nadu.
Major Blow to West Bengal-Based Firms
The cancellation orders, which were issued on various dates throughout September 2026, impact a wide array of financial entities. The RBI has made it clear that these companies are no longer permitted to transact the business of a Non-Banking Financial Institution as defined under the RBI Act.
The list of companies facing immediate cancellation includes:
- Nakodar Finance
- Ajitnath Steels
- Astrol Dealcom
- Bhagyashri Trading
- Booh Finance Company
- Britex Financial Services
- Sajili Vinimay
- Bhumika Fiscal Services
- Blue Mount Exports
- Delta Capital Market
- Rajesh Fiscal Services
- Sarla Finance
- Shreyans Vyapaar
Surrenders and Regulatory Shifts
In a separate development, the RBI also announced that 10 other NBFCs have voluntarily surrendered their Certificates of Registration. The reasons for these surrenders vary, ranging from business exits to changes in regulatory classification and the cessation of legal existence.
Among the companies that exited the non-banking financial business include:
- Pragati Fincap
- Rajlakmi Vanijya
- Vivriti Capital
- MSJ Colonising and Leasing Company
- PKSL Investment
- HCL Corporation
Additionally, some companies surrendered their licenses due to shifts in their business models. For instance, PCR Investments surrendered its registration after meeting the criteria for an unregistered Core Investment Company (CIC), while Aparna Investment did so after meeting the criteria for an unregistered Type I NBFC. The final two companies, Vandana Griha Nirman and Ramsisaria Builders, surrendered their certificates following legal dissolution, merger, or voluntary strike-off.