The Reserve Bank of India (RBI) on June 10, 2026, cancelled the Certificates of Registration (CoR) of 135 Non-Banking Financial Companies (NBFCs) across India. The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934, which empowers the central bank to cancel registrations granted to NBFCs for reasons including non-compliance with regulatory requirements, failure to carry on NBFC business, or breach of conditions attached to registration.

Of the 135 entities whose CoRs were cancelled, a significant majority — 125 — had their registered offices in West Bengal, primarily in Kolkata and neighbouring areas. The remaining 10 were spread across Maharashtra (4), Delhi (2), Madhya Pradesh (1), Manipur (1), Tamil Nadu (1), and Telangana (1).

Among the notable entities whose registrations were cancelled are Express Fincap House, Akshay Fiscal Services, Times Finance (P), Jupiter Projects (P), Jupiter Finvest, Essel Finance Business Loans, and Citiwide Financial Services. The CoRs of these companies had originally been granted between 1998 and 2022.

In a separate but related development, 13 NBFCs voluntarily surrendered their Certificates of Registration to the RBI. The surrenders were on account of various reasons including exiting the NBFC business, amalgamation, merger, dissolution, and voluntary strike-off from the Register of Companies.

This large-scale cancellation reflects the RBI's continued focus on strengthening the NBFC regulatory framework, weeding out dormant or non-compliant entities, and ensuring only active, rule-abiding players remain in the financial ecosystem. The NBFC sector plays a crucial role in financial inclusion, particularly in semi-urban and rural areas, making robust regulation essential to protect depositors and borrowers alike.