RBI cancels registrations of 135 NBFCs; 13 firms voluntarily exit sector (opens in new tab)

The Reserve Bank of India (RBI) has revoked the registration certificates of 135 non-banking financial companies (NBFCs) across the country, with the majority of the affected entities based in West Bengal. The action also covers firms located in Maharashtra, Delhi, Telangana, Madhya Pradesh, Manipur and Assam.The cancellations were carried out under Section 45-IA(6) of the RBI Act, 1934. The central bank said the affected firms failed to comply with regulatory requirements, did not meet the c...