The Reserve Bank of India (RBI) has taken a major regulatory action by cancelling the certificates of registration of 135 non-banking financial companies (NBFCs). Following the cancellation, these entities can no longer operate as NBFCs or undertake non-banking financial activities.
The affected companies include firms such as Express Fincap House, Akshay Fiscal Services, Times Finance, Jupiter Projects, Jupiter Finvest, Essel Finance Business Loans and Citiwide Financial Services, among others.
According to RBI disclosures, the majority of the NBFCs whose registrations were cancelled had their registered offices in West Bengal. The move is part of the central bank’s ongoing efforts to strengthen regulatory compliance and maintain discipline within the financial sector.
The action comes amid increased scrutiny of NBFCs, which play a crucial role in credit delivery across India. RBI has been actively monitoring governance standards, compliance requirements and operational practices across the sector to protect consumers and maintain financial stability.
Industry observers view the mass cancellation as one of the larger enforcement actions in recent years, underscoring the central bank’s focus on ensuring that only compliant and adequately governed entities continue to operate in the financial ecosystem.
