Economy
RBI Cancels Licences of 13 NBFCs, Barring Their Financial Business
The RBI has cancelled the registration certificates of 13 companies, preventing them from conducting non-banking financial institution business.
What happened
The Reserve Bank of India cancelled the Certificates of Registration of 13 companies under Section 45-IA(6) of the RBI Act, 1934. The affected firms include Nakodar Finance, Ajitnath Steels, Astrol Dealcom and 10 others, with cancellation orders dated September 7-21, 2026. They can no longer transact business as non-banking financial institutions. The source does not state why the registrations were cancelled.
Why it matters
The 13 companies are barred from carrying out NBFC business, directly removing their regulatory authority to operate in that segment. No wider customer or market impact is specified.
Source: RBI