The Reserve Bank of India (RBI) has enforced stricter compliance standards across the non-banking financial company (NBFC) sector by cancelling the certificates of registration of 135 NBFCs.
The move highlights the central bank’s continued focus on strengthening regulatory discipline, promoting sound governance practices, and ensuring that entities operating in the financial ecosystem adhere to prescribed norms and compliance requirements.
Among the companies whose registrations were cancelled are Express Fincap House, Akshay Fiscal Services, Times Finance (P), Jupiter Projects (P), Jupiter Finvest, Essel Finance Business Loans and Citiwide Financial Services.
According to the RBI, a significant number of the affected entities had their registered offices located in West Bengal. The move forms part of the regulator’s broader efforts to enhance supervisory standards and ensure that only compliant entities continue to operate within the financial services landscape.
The latest action reflects the RBI’s continued focus on fostering a stronger and more resilient NBFC sector by encouraging adherence to regulatory requirements and promoting sound business practices. The central bank has been undertaking a series of measures in recent years to improve governance standards and strengthen oversight across financial institutions.
Through such initiatives, the RBI aims to support a stable and efficient financial environment that safeguards stakeholder interests while contributing to the long-term health of the country’s financial ecosystem.
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