The Reserve Bank of India has canceled the Certificates of Registration of 59 Non-Banking Financial Companies due to non-compliance with regulatory requirements.
RBI Cancels Certificate of Registration of 59 NBFCs
In a significant move, the Reserve Bank of India has canceled the Certificates of Registration (CoR) of 59 Non-Banking Financial Companies (NBFCs). This action was taken under Section 45-IA (6) of the Reserve Bank of India Act, 1934, due to these companies' non-compliance with regulatory requirements.
The cancellation serves as a strict reminder of the necessity for NBFCs to adhere to rules and regulations laid down by the RBI. Companies falling short of these standards face severe repercussions, including loss of their operating licenses.
This development emphasizes the importance of compliance and vigilance among financial institutions. Legal and financial professionals should convey the seriousness of regulatory compliance to their clients and ensure that due diligence is practiced.
Citations
- Reserve Bank of India, Press Release (2026)