The Reserve Bank of India (RBI) has cancelled the certificates of registration of 135 Non-Banking Financial Companies (NBFCs), according to an official announcement released on Wednesday.
Among the companies whose registrations were revoked are Express Fincap House, Akshay Fiscal Services, Times Finance Pvt. Ltd., Jupiter Projects Pvt. Ltd., Jupiter Finvest, Essel Finance Business Loans, and Citiwide Financial Services.
The RBI’s release indicated that a large number of the affected NBFCs were registered in West Bengal.
In a separate development, 13 NBFCs voluntarily surrendered their certificates of registration to the central bank. The reasons include exiting the non-banking financial business or ceasing to exist as legal entities due to mergers, amalgamations, dissolutions, or voluntary strike-offs.
Companies such as J. Thomas Finance, Econ-Super Sales, Hitesha Finance and Investment, Tinnevelly Tuticorin Investments, Carnex Vinimay, and Impact Leasing surrendered their licences after discontinuing their Non-Banking Financial Institution (NBFI) operations.
Meanwhile, Forerunner Capital Investments surrendered its registration after qualifying as an unregistered Core Investment Company (CIC), a category that does not require RBI registration under existing regulations.
The RBI also stated that companies including Caspian Impact Investments, Hari Darshan Sales, Ivory Consultants, SKA Consultancy Services, Trishita Management, and Suban Trades surrendered their licences after ceasing to be legal entities following mergers, amalgamations, dissolutions, or voluntary strike-offs.
The move is part of the RBI’s ongoing efforts to maintain regulatory compliance and ensure greater transparency within the non-banking financial sector.
