The RBI cancels licences of 13 NBFCs, including 11 registered in West Bengal and two in Tamil Nadu, barring these companies from carrying out non-banking financial institution business.
The Reserve Bank of India announced the action on October 9, 2026, following cancellation orders issued on different dates in September.
The decision was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934.
The affected companies can no longer conduct activities classified as non-banking financial institution business under the relevant provisions of the law.
 RBI Cancels Licences of 13 NBFCs: Full Details
The 13 companies whose Certificates of Registration (CoRs) 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.
Of the 13 companies, 11 have registered offices in West Bengal, while Nakodar Finance and Booh Finance Company are based in Tamil Nadu.
The cancellation orders were issued between September 7 and September 21, 2026.
 What the RBI’s Licence Cancellation Means
A Certificate of Registration is an important regulatory requirement for companies that conduct non-banking financial institution business covered by the RBI Act.
By cancelling these certificates, the central bank has prohibited the affected entities from carrying out such activities.
The action does not mean that every company has been accused of fraud or that all its other business activities have automatically been prohibited.
The stated regulatory consequence is that the companies cannot transact the business of a non-banking financial institution as defined under Section 45-I of the RBI Act, 1934.
Customers and business partners dealing with any of the named entities should verify the company’s current regulatory status and understand how the cancellation may affect their specific financial arrangements.
 Another 10 NBFCs Surrender Their Registration Certificates
In a separate announcement on October 9, the RBI said that 10 NBFCs had surrendered their Certificates of Registration for various reasons.
These included voluntarily leaving the non-banking financial institution business, qualifying for specific regulatory exemptions and ceasing to exist as legal entities.
Six companies surrendered their registrations after exiting the NBFC business.
They were 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 certificate after meeting the criteria for classification as an unregistered Core Investment Company.
Aparna Investment did so after meeting the requirements for classification as an unregistered Type I NBFC.
Such classifications do not require RBI registration when the prescribed conditions are satisfied.
The remaining two companies, Vandana Griha Nirman and Ramsisaria Builders, surrendered their certificates following circumstances involving the cessation of their legal existence, such as amalgamation, merger, dissolution or voluntary strike-off.
What Customers Should Check
The cancellation of an NBFC’s registration is a significant regulatory development, but customers should distinguish between the cancellation of a certificate and the status of any individual loan, repayment obligation or other contract.
Anyone dealing with an affected company should retain relevant agreements, payment records and correspondence.
If a loan or financial arrangement is involved, customers should check the official communication from the company and seek clarification on the servicing of their account.
The RBI’s action reinforces the importance of checking whether a financial company holds the required registration before entering into a financial arrangement.
Customers can verify regulatory information through the central bank’s official channels rather than relying solely on a company’s name, advertisements or online claims.
