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RBI Cracks Down on 150 NBFCs, Cancels Registration Certificates
Pooja Srivastava | Anytime News Network
Mumbai: Reserve Bank of India has taken major regulatory action by cancelling the Certificates of Registration (CoR) of 150 Non-Banking Financial Companies (NBFCs) across India. The move was carried out under Section 45-IA(6) of the RBI Act, 1934, effectively prohibiting these firms from conducting NBFC business activities.
The extensive list released by the central bank includes companies registered in Delhi, West Bengal, Telangana, Karnataka, Bihar, Haryana, and several other states. A significant number of the affected entities are based in Kolkata and New Delhi, many of which were involved in finance, investment, leasing, trading, and securities-related operations.
The large-scale cancellation has triggered fresh debate over regulatory supervision in the non-banking financial sector. Financial observers say the action reflects RBI’s growing focus on compliance, transparency, and tighter monitoring of financial institutions. However, critics argue that the existence of so many questionable or non-compliant entities for years also exposes weaknesses in earlier regulatory enforcement mechanisms.
Following the cancellation orders, the listed companies are no longer authorised to function as Non-Banking Financial Institutions under Indian law. The development has also raised concerns among investors and customers who may have had financial dealings with these firms in the past. Experts are advising the public to carefully verify RBI registration and legal status before investing money or engaging with any finance-related company.
The crackdown comes at a time when regulatory authorities are under increasing pressure to strengthen investor protection and curb suspicious financial activities across the country. Analysts believe the latest move sends a strong warning to entities failing to meet regulatory standards and compliance norms.
The RBI has not only intensified scrutiny over NBFC operations but has also signalled that stricter enforcement actions may continue in the coming months against institutions violating financial regulations.
