News
RBI Cancels Registration of 13 Non-Banking Finance Companies
The Reserve Bank of India has cancelled the registration certificates of 13 non-banking financial companies across various regions.
- Reviewed by
- Shravya Mishra
- Published
This brief was drafted with the help of an AI system from the official source listed below, then checked against that source and approved by Shravya Mishra before publication. How we work.
What happened
The Reserve Bank of India (RBI) has cancelled the Certificate of Registration (CoR) for 13 non-banking financial companies. An NBFC is a company registered under the Companies Act that provides banking-like financial services without holding a formal bank license. The central bank took this action using the powers given to it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. The affected firms include Nakodar Finance Private Limited, Ajitnath Steels Pvt Ltd (also known as Augment Finvest Private Limited), 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.
What it means for you
Because their registration has been cancelled, these 13 companies "shall not transact the business of a Non-Banking Financial Institution". This means they are no longer legally permitted to carry out any lending, borrowing, or other financial activities defined under the RBI Act. The official announcement does not provide further details on how existing customer accounts, loans, or deposits with these specific firms will be handled.
What to do
If you have any ongoing financial dealings, loans, or deposits with any of these 13 companies, check your paperwork immediately. The announcement does not state any specific instructions or helplines for customers. You should contact the company directly through its official channels or consult your legal advisor to understand how this cancellation affects your specific financial arrangements.
Common questions
How many companies lost their registration?
The Reserve Bank of India cancelled the registration of 13 companies.
Can these companies still operate as financial institutions?
No, the announcement states that these companies shall not transact the business of a Non-Banking Financial Institution.
Sources
- Reserve Bank of India: RBI cancels Certificate of Registration of 13 NBFCs
This is general information for education, not investment, tax or legal advice. Rules and rates change; check the official source before acting. Read the full disclaimer.
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