RBI NBFC action: 13 registrations cancelled, 10 CoRs surrendered
Why in the news
On 9 October 2026 the Reserve Bank of India (RBI) announced that it had cancelled the registration of 13 non-banking financial companies (NBFCs). In a second release the same day, it said 10 more NBFCs had surrendered their registration certificates.
Key facts
- Cancellations: Certificates of Registration (CoR) of 13 NBFCs were cancelled under Section 45-IA(6) of the RBI Act, 1934.
- Location: 11 of the 13 are based in West Bengal (mostly Kolkata, one in Jalpaiguri/Jaigaon); 2 are in Chennai, Tamil Nadu – Nakodar Finance and Booh Finance Company.
- Surrenders: 10 NBFCs gave up their CoRs; RBI cancelled these too, using the same Section 45-IA(6), with orders dated between 3 and 30 September 2026.
- Among the surrendering firms was Vivriti Capital Limited, Chennai.
Reasons for surrender
| Ground | Number of NBFCs |
|---|---|
| Exit from non-banking financial institution business | 6 |
| Qualifies as unregistered Core Investment Company | 1 |
| Qualifies as unregistered Type I NBFC | 1 |
| No longer a legal entity (merger, dissolution, strike-off) | 2 |
About NBFC registration
NBFCs are registered with RBI under Section 45-IA of the RBI Act, 1934, and sub-section (6) is the provision RBI invoked both for the 13 cancellations and for the 10 surrendered certificates. Surrender grounds included leaving NBFI business or qualifying as an unregistered Core Investment Company or Type I NBFC.
Exam angle
- Remember the law: RBI Act, 1934, Section 45-IA (registration of NBFCs).
- Note the count: 13 cancellations and 10 surrenders on one day.
- West Bengal accounted for most of the cancelled entities.