The Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoR) of 16 Non-Banking Financial Companies (NBFCs) after these entities voluntarily surrendered their licences.
The action has been taken under the provisions of Section 45-IA (6) of the Reserve Bank of India Act, 1934, which empowers the central bank to revoke registrations in specific circumstances.
Exit from NBFC Operations
A number of companies chose to exit the non-banking financial business entirely, leading to the surrender of their licences. These include firms such as Rajyarekha Trade Pvt. Ltd, UBS Finance India Private Limited, Sri Bhabani Investments Pvt Ltd, Uni P2P Platform Private Limited, Nalwa Trading Limited, LKP Finance Limited (now Gyftr Limited), and IM+ Investments & Capital Private Limited.
Following confirmation that these entities had discontinued NBFC-related activities, the RBI proceeded to cancel their registrations in March 2026.
Shift to Unregistered Core Investment Company Status
Some firms no longer required NBFC registration as they qualified under the category of unregistered Core Investment Companies (CICs). Under existing regulations, such entities are exempt from mandatory registration if they meet specified criteria.
Companies falling into this category include Amin Finvest Holding Private Limited, Cellphone Credit and Securities India Private Limited, Cellcap Invofin India Private Limited, and Shishir Finstock Private Limited.
Cancellations Linked to Corporate Restructuring
In certain cases, licences were withdrawn due to structural changes such as mergers, amalgamations, voluntary strike-offs, or dissolution. These processes resulted in the companies ceasing to exist as independent legal entities.
Entities affected under this category include Vinsan Brothers Pvt Ltd, HDFC Investments Limited, Nabsamruddhi Finance Limited, Mehul Finance and Investments Private Limited, and Vyaparavijayam Hire Purchase Private Limited.
Strengthening Regulatory Oversight
The RBI’s decision reflects its ongoing efforts to maintain a streamlined and compliant financial ecosystem. By removing inactive or ineligible entities from the NBFC framework, the regulator ensures that only operational and qualified companies remain under its supervision.
Conclusion
The cancellation of licences for these 16 NBFCs is part of routine regulatory housekeeping. It underscores the RBI’s commitment to ensuring transparency, regulatory compliance, and stability within India’s financial sector.
Summary:
The RBI has cancelled the licences of 16 NBFCs after they voluntarily surrendered their registrations. The move includes companies exiting the NBFC business, qualifying as unregistered CICs, or ceasing operations due to restructuring. This step reflects the RBI’s continued focus on maintaining a clean and compliant financial system.
Disclaimer:
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