Major Crackdown! RBI Cancels Registration of 150 NBFCs, Majority in These Cities

The RBI has revoked the registration of around 150 NBFCs. NBFCs are Non-Banking Financial Company, a financial institution that offers banking services such as loans, credit facilities and asset management but does not have a complete banking license.

“The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies,” the RBI stated in a press release.

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A number of small and mid sized financial and investment companies involved in lending, leasing, investing and other financial activities are among the companies that have been cancelled. Companies from states like Telangana, Karnataka, Madhya Pradesh, Bihar and Haryana are also included in the list. According to an RBI list, the majority of the NBFCs were registered in Delhi (about 67), while the majority of the firms were registered in Kolkata and the surrounding areas of West Bengal (approximately 75).

The RBI stated that the companies would no longer be permitted to engage in the business of a non-banking financial institution as defined by the RBI Act. Between April 6 and April 21, 2026, the cancellations were issued.

Because their registration has been revoked, these companies are no longer able to function as NBFCs or conduct financial business activities that are governed by the central bank, according to the ANI.