The RBI Cancels Licences of 13 NBFCs, including 11 companies registered in West Bengal and two in Tamil Nadu, barring them from carrying out non-banking financial business.
The Reserve Bank of India announced the regulatory action on October 9, 2026, with the cancellation orders issued on various dates in September.
The decision affects companies that previously held Certificates of Registration (CoRs) permitting them to operate as non-banking financial companies.
Following the cancellation, these entities can no longer conduct activities classified as non-banking financial institution business under the relevant provisions of the RBI Act, 1934.
Why RBI Cancelled Registration of 13 NBFCs
The RBI cancelled the registrations by exercising its powers under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
The regulatory action means the affected companies are prohibited from conducting non-banking financial institution business as defined under the Act.
Of the 13 companies, 11 have registered offices in West Bengal, while the remaining two are based in Tamil Nadu.
The cancellations were recorded through separate orders issued during September 2026.
The announcement is part of the RBI’s regulatory oversight of financial companies operating in India.
Registration is an important requirement for entities carrying out activities covered by the legal definition of an NBFC, subject to applicable exemptions and regulatory conditions.
List of NBFCs Affected by the RBI Action
The 13 companies whose registrations were cancelled include Nakodar Finance Private Limited, Ajitnath Steels Private Limited, Astrol Dealcom Private Limited, Bhagyashri Trading Private Limited and Booh Finance Company Private Limited.
The remaining companies are Britex Financial Services Private Limited, Sajili Vinimay Private Limited, Bhumika Fiscal Services Private Limited, Blue Mount Exports Private Limited, Delta Capital Market Limited, Rajesh Fiscal Services Private Limited, Sarla Finance Private Limited and Shreyans Vyapaar Private Limited.
Most of the affected companies have registered offices in West Bengal, particularly in Kolkata and other locations across the state. Nakodar Finance and Booh Finance Company are among the companies listed with registered offices in Tamil Nadu.
The cancellation of registration prevents the affected entities from continuing regulated NBFC business under the cancelled certificates.
Customers and other stakeholders dealing with any of these companies should verify the company’s current status and contact details through official regulatory records before making financial decisions.
RBI Also Reports 10 NBFCs Surrendering Licences
In a separate announcement on October 9, the RBI reported that 10 NBFCs had surrendered their Certificates of Registration for different reasons.
These included exiting the non-
banking financial business, qualifying for certain registration exemptions and ceasing to exist as legal entities.
Six companies surrendered their certificates after exiting the non-banking financial institution business.
They included Pragati Fincap Limited, Rajlakmi Vanijya Private Limited, Vivriti Capital Limited, MSJ Colonising and Leasing Company Private Limited, PKSL Investment Private Limited and HCL Corporation Private Limited.
PCR Investments surrendered its registration after meeting the criteria for classification as an unregistered Core Investment Company, while Aparna Investment qualified for classification as an unregistered Type I NBFC.
Such classifications may permit eligible entities to operate without NBFC registration, provided they meet the applicable regulatory conditions.
Two other companies, Vandana Griha Nirman and Ramsisaria Builders, surrendered their certificates after ceasing to exist as legal entities following events such as amalgamation, merger, dissolution or voluntary strike-off.
What the RBI Action Means for Financial Companies
The cancellation of an NBFC’s registration is different from a company voluntarily surrendering its certificate. In the first case, the RBI cancels the registration and prohibits the entity from carrying out the covered business.
In the second, the surrender may follow the company’s exit from the business or a change in its regulatory status.
For borrowers and other customers, the announcement highlights the importance of checking whether a financial company is currently authorised to conduct the relevant activities.
The cancellation itself does not establish that every affected company has committed fraud or that all outstanding customer obligations have automatically disappeared.
Anyone with an existing loan, deposit or other financial arrangement involving an affected entity should review the applicable agreement and seek clarification directly through verified official channels.
The consequences for individual customers will depend on the nature of the financial relationship and the relevant legal provisions.
The RBI’s October 9 announcements cover both the cancellation of 13 registrations and the surrender of 10 certificates.
The two actions have different circumstances, but both underline the importance of regulatory registration and compliance for companies operating in India’s non-banking financial sector.
