Now Reading: RBI cancels 59 NBFC licences, restores one
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RBI cancels 59 NBFC licences, restores one
The Reserve Bank of India has cancelled the Certificate of Registration (CoR) of 59 Non-Banking Financial Companies (NBFCs) as of June 1, 2026. The list includes firms such as Trincas Consultancy Pvt…
The Story in Brief
The Reserve Bank of India has cancelled the Certificate of Registration (CoR) of 59 Non-Banking Financial Companies (NBFCs) as of June 1, 2026. The list includes firms such as Trincas Consultancy Pvt Ltd, Triple Rank Consultants, and several others based mostly in West Bengal and a few in other states. The RBI acted under Section 45-IA (6) of the RBI Act, 1934.
Separately, the RBI restored the CoR for Goli Finance Limited, a Delhi-based NBFC, on July 31, 2026, after considering orders from an appellate authority or court. The restored firm must now comply with all applicable RBI norms and reporting requirements.
The Indian Opinion
The RBI's twin moves, cancelling 59 licences in one go while restoring one, invite scepticism. Critics may call the regulator too strict, but thousands of NBFCs operate and routine cancellations for non-compliance are expected. The real test is why Goli Finance got relief while others did not. RBI must disclose the appellate reasoning publicly to maintain trust. How many of the 59 firms are still collecting deposits illegally? That number will settle the debate.
Sources (2): rbi.org.in, rbi.org.in (2)
This story was synthesised by AI from the 2 sources linked above.
