The Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoR) of 54 Non-Banking Financial Companies (NBFCs) under the powers conferred by Section 45-IA(6) of the Reserve Bank of India Act, 1934. The action was announced through a press release dated April 8, 2026. 

The cancellation of registration means that these entities can no longer carry on the business of a Non-Banking Financial Institution (NBFI) as defined under Section 45-I(a) of the RBI Act, 1934. The move forms part of the RBI’s ongoing efforts to strengthen regulatory oversight of the non-banking financial sector and ensure compliance with statutory requirements. 

List of 54 NBFCs Whose CoR Has Been Cancelled by RBI

The affected companies are spread across several states, with a large concentration in Delhi and the National Capital Region (NCR). The cancellation orders were issued between March 10, 2026 and March 30, 2026. Some of the entities whose registrations have been revoked include Chefair Impex Ltd, Umeed Leasing & Finance Limited, Zafonic Finlease & Investments Private Limited, Kasal India Private Limited, Tulip Investments Private Limited, Confluence Leasing and Credit Limited, and several other finance and investment companies. 

The RBI clarified that, following the cancellation of their registrations, these companies are prohibited from undertaking NBFC activities. Such actions are typically taken when entities fail to meet regulatory requirements, cease to satisfy conditions for registration, or otherwise become ineligible to continue NBFC operations under the RBI’s regulatory framework. 

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