RBI cancels licences of 13 NBFCs, 10 in Kolkata and 2 in Chennai
RBI has cancelled the registration of 13 finance companies, including Nakodar Finance and Booh Finance in Chennai and 11 in West Bengal, so they can no longer do NBFC business.
Official title: RBI cancels Certificate of Registration of 13 NBFCs · Press Release 2026-2027/1295
What happened
RBI has cancelled the Certificates of Registration of 13 non-banking financial companies (NBFCs) under Section 45-IA(6) of the RBI Act. The orders are dated between September 7 and September 21, 2026. Unlike a surrender, this is RBI's own decision. The release does not give reasons for each company.
Two are in Chennai: Nakodar Finance Private Limited and Booh Finance Company Pvt Ltd. Ten are in Kolkata: Ajitnath Steels Pvt Ltd (now Augment Finvest Private Limited), Astrol Dealcom, Bhagyashri Trading, Britex Financial Services, Sajili Vinimay, Blue Mount Exports, Delta Capital Market Ltd., Rajesh Fiscal Services, Sarla Finance and Shreyans Vyapaar. One, Bhumika Fiscal Services, is in Jaigaon, Jalpaiguri district, West Bengal.
From now on these companies must not do the business of a non-banking financial institution, such as lending or accepting deposits as an NBFC.
What it means for you
If you borrowed from one of these companies, your loan stays payable on the agreed terms, so keep paying and keep receipts. Do not take a new loan from them or place money with them: they are no longer allowed to do that business. You can check whether any lender is registered on RBI's website.
What it means for businesses
Firms dealing with these companies should treat them as no longer licensed to lend. Most appear to be small investment companies, and the wider effect is minimal.
Read the original
Press release on rbi.org.in ↗ Official PDF ↗
This explainer simplifies the official text. If anything here differs from the RBI's release, the release is right.