RBI Cancels Registration of 10 NBFCs from West Bengal; 3 Others Surrender Certificates
Moneylife Digital Team 18 March 2025
Reserve Bank of India (RBI) has cancelled the certificates of registration (CoR) of 10 non-banking financial companies (NBFCs) from West Bengal. RBI has not provided any specific reason for cancelling the CoR of these NBFCs. Separately, following their exit from the non-banking financial institution (NBFI) business, three NBFCs surrendered their registration certificate to the central bank. 
 
NBFCs whose registration has been cancelled by RBI include: Doyen Vyapaar Pvt Ltd, Gaja Fincorp Pvt Ltd, Torrent Merchandise Pvt Ltd, Lokpriya Trade & Agency Pvt Ltd, Ranisati Merchandise Pvt Ltd, Mahima Commercial Company Pvt Ltd, Yoyoma Trading Pvt Ltd, Veshnawy Vyapaar Pvt Ltd, Easey Credit Pvt Ltd and Raikot Finance and Investment Pvt Ltd.
 
RBI has not given any specific reason for cancelling the registration of these NBFIs. Its statement merely says, "...in the exercise of powers conferred on it under section 45-IA (6) of the RBI Act, 1934, has cancelled the certificate of registration...As such, the above companies shall not transact the business of a non-banking financial institution -NBFI, as defined in clause (a) of Section 45-I of the RBI Act."
 
The three NBFCs who have surrendered registration certificates include one each from New Delhi, Bihar and Maharashtra. 
 
RV Techno Investments Pvt Ltd from New Delhi surrendered its registration certificate and RBI issued an order to cancel their registration on 27 January 2025.
 
Bihar-based Panghat Finance Company Pvt Ltd, which was issued a registration in 2021, also decided to surrender its certificate. RBI issued an order for this on 5 February 2025.
 
RBI says Walton Street India Finance from Maharashtra also surrendered its registration as an NBFC and RBI issued an order to cancel the registration on 6 February 2025.
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