RBI revises CoR surrender application criteria for NBFCs and HFCs

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Parshwa Turakhiya

30.06.2026

RBI revises CoR surrender application criteria for NBFCs and HFCs — RBI CoR Surrender Rules

The Reserve Bank of India has revised the application process for voluntary surrender and cancellation of Certificate of Registration (CoR) for NBFCs and HFCs. This change follows the amendment directions dated 29 April 2026, and the updated application form and indicative checklist are now available for submission on the PRAVAAH portal.

Highlights

RBI has updated the application process and checklist for voluntary surrender of CoR as per the revised directions dated 29 April 2026.
NBFCs and HFCs can now submit the revised application along with all required documents through the PRAVAAH portal.
NBFCs and HFCs must continue to comply with all regulatory and supervisory obligations until formal notification of CoR cancellation is received.

This article was translated from the original. Read the original version by our correspondent here.

Revised Application Process and Documentation Requirements

Based on the Reserve Bank of India's press release dated 23 September 2025, the application form and indicative checklist for voluntary surrender of CoR were provided, which have now been updated following the amendment directions dated 29 April 2026. This revision aligns with the changes related to Unregistered Type I NBFCs under the Reserve Bank of India (Non-Banking Financial Companies, Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026.

Applicant NBFCs, including HFCs, can submit the duly filled application form and all required documents as per the checklist through the PRAVAAH portal. The central bank aims to make the voluntary surrender process more transparent and standardized, ensuring uniform scrutiny of cancellation applications.

Compliance to Continue Until Cancellation

The central bank has clarified that mere submission of the application and supporting documents does not constitute cancellation of the CoR. The concerned entities must continue to comply with all applicable guidelines and directions issued by the RBI, NHB, and other competent authorities.

Until the RBI formally notifies the concerned entity of the CoR cancellation, NBFCs and HFCs must continue to submit all required regulatory and supervisory returns. This arrangement is crucial to maintain regulatory continuity in the non-banking financial sector and to prevent any supervisory gaps during the cancellation process.

In our previous report, we discussed India's industrial production (IIP) growth of 5.1% in May 2026 and the impact of the new IIP series and Output Producer Price Index methodology. The report highlighted that strength in electricity generation, manufacturing, and capital goods indicates sustained investment activity and domestic demand, while the methodology change may lead to revised growth rates in some sectors and potential future revisions in GDP data.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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