RBI Cancels Registration Certificates of 13 NBFCs Across West Bengal and Tamil Nadu

The Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoR) of 13 Non-Banking Financial Companies (NBFCs), barring them from undertaking any further non-banking financial operations. The cancellation orders were executed in exercise of the regulatory powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

Following the issuance of these orders, the affected companies can no longer conduct the business of a Non-Banking Financial Institution as defined under clause (a) of Section 45-I of the RBI Act, 1934.

Affected Entities Across Eastern and Southern Regions

The cancellation orders were passed between September 7, 2026, and September 21, 2026. The registered offices of the deregistered companies are primarily concentrated in West Bengal (particularly Kolkata and Jalpaiguri), alongside entities based in Chennai, Tamil Nadu.

The 13 entities whose registrations were revoked include:

• Nakodar Finance Private Limited (Guindy, Chennai, Tamil Nadu)
• Ajitnath Steels Pvt Ltd (Augment Finvest Private Limited, Kolkata, West Bengal)
• 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. (Kolkata, West Bengal)
• Rajesh Fiscal Services Private Limited (Kolkata, West Bengal)
• Sarla Finance Pvt. Ltd.
• Shreyans Vyapaar (P) Ltd.

The registrations of these companies spanned diverse vintages—with licenses originally granted in 1998, 2001, 2003, 2004, 2011, 2014, and 2018—demonstrating that the supervisory scrutiny extends across long-standing and newer establishments alike.

Surrenders and Broader Supervisory Purge

Alongside the cancellations, 10 other NBFCs have surrendered their Certificates of Registration to the RBI. The voluntary surrenders were attributed to companies choosing to exit the non-banking financial institution business or ceasing to exist as corporate entities as a result of amalgamations, mergers, dissolutions, or voluntary strike-offs.

This measure aligns with the central bank’s ongoing campaign to purge inactive, shell, and non-compliant balance sheets from India's financial system. A significant number of shell finance firms registered in eastern hubs have faced regulatory scrutiny over minimum net owned fund (NOF) compliance, anti-money laundering norms, and non-operational corporate shells.

Implications for Indian Markets and Borrowers

For domestic financial markets, the central bank’s continued administrative enforcement reinforces stability in the credit ecosystem:

Strengthened Governance Standards: The purge ensures that only well-capitalised and operationally transparent NBFCs maintain active regulatory licences, bolstering depositor and investor trust in mainstream shadow lenders.

Risk Mitigation in Shadow Banking: By removing entities that are dormant or unable to comply with statutory prudential norms, the banking regulator prevents the misuse of dormant NBFC corporate structures for unauthorized financial intermediation or opaque funding circuits.

Customer Caution: Borrowers and retail businesses transacting with regional credit outfits are advised to cross-verify the registration status of financial entities on the official RBI registry before executing lending, loan sourcing, or investment agreements.

Tags: Reserve Bank of India NBFC Non-Banking Financial Companies Banking & Finance Financial Regulation