Once again a major action by RBI has come to light in April. The licenses i.e. certificates of registration of a total of 54 non-banking finance companies (NBFCs) located in different states across the country have been cancelled. After which these companies will not be allowed to do business as non-banking financial institutions. Apart from this, 16 NBFCs themselves have surrendered COR due to various reasons.
Reserve Bank of India has given information about the action through a press release on 8 April. According to which the COR of 49 companies located in Delhi and 3 in Haryana was cancelled. The license of a company based in West Bengal and Telangana has been cancelled.
Chafair Intex Limited, based in Kolkata, West Bengal, will no longer be allowed to continue business as an NBFI. The license has been canceled on 10 March 2026. The COR of Geephonic Finlease and Investments Private Limited located at Seri Lingampally in Telangana has also been cancelled.
License of these companies canceled in Haryana
The license of RMB Financial Services Limited, located in NIT Haryana, has been canceled by RBI on March 30. The certificate of registration of Vishesh Securities Private Limited and Rajat Fincap Private Limited based in Faridabad has also been cancelled. An order to this was also issued to these two companies on March 30.
License of which companies canceled in Delhi?
RBI canceled the licenses of 49 non-banking financial companies in Delhi. This list includes Tulip Investment Private Limited, Confluence Leasing and Credit Limited based in Paschim Vihar, Dear Investment Private Limited, Harsh Capital Services Limited, Kiran Resources Private Limited, etc. The Central Bank has taken this step under Section 45IA (6) of the Reserve Bank of India Act 1934. The list of companies whose CoR has been canceled is given below-
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These companies surrendered their licenses
After exiting the non-banking financial institution business, 7 companies have surrendered their certificate of registration, which has also been approved by the RBI. Four finance companies have surrendered their COR after meeting the criteria for unauthorized core investment company. Whereas due to merger/amalgamation/dissolution/voluntary name removal etc., five companies have surrendered their COR. The complete list of companies that have surrendered their licenses is given below-
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