RBI Cancels Certificates of Registration of 13 NBFCs

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RBI Cancels Certificates of 13 NBFCs

Highlights

RBI cancelled the certificates of registration of 13 NBFCs under Section 45-IA(6) between September 7 and September 21, 2026.
The action applied to entities such as Nakodar Finance, Ajitnath Steels and Britex Financial Services, including companies from Kolkata, Jalpaiguri and Chennai.
Following the cancellations, the companies concerned will be unable to conduct NBFC activities, increasing compliance pressure on the NBFC sector in eastern India and Tamil Nadu.

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

Cancellation Orders and Affected Companies

According to press release 2026-2027/1295 issued by the Reserve Bank of India (RBI), the central bank took this action under Section 45-IA(6) of the RBI Act, 1934. The orders are dated between September 7, 2026, and September 21, 2026, and cover both older and relatively recent registrations.

The cancelled registrations include Nakodar Finance Private Limited, Ajitnath Steels Pvt Ltd, Astrol Dealcom Pvt Ltd, Bhagyashri Trading Pvt Ltd, Booh Finance Company Pvt Ltd, Britex Financial Services Pvt. Ltd., Sajili Vinimay Pvt. Ltd., Bhumika Fiscal Services Private Limited, Blue Mount Exports Pvt Ltd., Delta Capital Market Ltd., Rajesh Fiscal Services Private Limited, Sarla Finance Pvt. Ltd. and Shreyans Vyapaar (P) Ltd. The registered offices of these companies are primarily located in Kolkata and surrounding areas, while some entities are also associated with Chennai and Jalpaiguri.

The companies on the list were issued certificates of registration in different years, including 1998, 2001, 2003, 2004, 2011, 2014 and 2018. This indicates that the action is not limited to recent registrations but covers NBFC entities from various periods in the RBI's records.

Regulatory Impact on the NBFC Sector

Following the cancellation of their certificates of registration, the companies concerned can no longer conduct any business as non-banking financial institutions. This action underscores the RBI's supervisory framework aimed at allowing only authorized entities to conduct NBFC activities in the market.

Eastern India, especially West Bengal, is the most represented region on this list, further highlighting the importance of compliance and licensing in the region's NBFC landscape. For the included companies in Tamil Nadu, the move also shows that failure to comply with regulatory standards can directly affect operating rights.

Our previous report covered RBI Governor Sanjay Malhotra's warning that tighter global financial conditions could have an impact on banks and non-bank financial institutions. It also emphasized the need for targeted regulatory and supervisory measures to safeguard financial stability, alongside risk channels such as high leverage, stretched equity valuations and a potential slowdown in the AI investment cycle.

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