RBI Cancels Registration of 13 NBFCs; 10 More Surrender Certificates

The other companies, whose registrations have been cancelled by the RBI, are Sajili Exchange, Bhumika Fiscal Services, Blue Mount Exports, Delta Capital Markets, Rajesh Fiscal Services, Sarla Finance, and Shreyans Vyapar.

Explaining the impact of this action, the central bank said that these companies "shall not carry on the business of a non-banking financial institution as defined in clause (a) of Section 45-I of the RBI Act, 1934."

In a separate press release issued on Friday, the RBI stated that 10 NBFCs had surrendered their registration certificates. The reasons cited included exit from business, change in regulatory classification, and ceasing to be legal entity. Six of these companies surrendered their certificates due to exit from the business of non-banking financial institution.

These include Pragati Fincap, Rajlaxmi Vanijya, Vivriti Capital, MSJ Colonizing and Leasing Company, PKSL Investments, and HCL Corporation. The RBI said it cancelled the surrendered certificates under Section 45-IA (6) of the RBI Act, 1934. Another company, PCR Investments, surrendered its registration after fulfilling the requirements to be classified as an unregistered core investment company (CIC); CICs are not required to be registered under the RBI Act.

Similarly, Aparna Investment surrendered its certificate after fulfilling the requirements to be classified as an unregistered Type I NBFC.

The remaining two companies, Vandana Grih Nirman and Ramsisaria Builders, surrendered their certificates under the category of companies that legally cease to exist upon amalgamation, merger, dissolution, or voluntary demerger. Both RBI announcements were issued on October 9, while the cancellation dates mentioned in the release are September 2026.