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India’s Financial Sector Under Pressure—Why These NBFCs Are Disappearing

Updated: June 12, 2025 11:30

Image Source: Adda247
The Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoR) of six NonBanking Financial Companies (NBFCs) while another four NBFCs have voluntarily surrendered their licenses, marking a significant shift in India’s financial landscape.
 
Six NBFCs Lose Registration
The RBI exercised its powers under Section 45IA (6) of the RBI Act, 1934, to revoke the registration of six NBFCs, effectively barring them from conducting financial business.
The affected companies include:
  • Cartel Finance and Investments Pvt Ltd
  • Alamgir Motor Finance Ltd
  • NauNidh Finance Ltd
  • Kim Investment Ltd
  • Sambandh Finserve Pvt Ltd
  • BTL Holding Company Ltd
While the RBI did not specify reasons for cancellation, past regulatory actions suggest concerns over compliance, financial stability, or operational irregularities.
 
Four NBFCs Exit Voluntarily
Separately, four NBFCs have surrendered their CoR, citing business restructuring, mergers, or voluntary exit from the sector. These include:
  • Sicom Investments & Finance Ltd (Maharashtra)
  • Pioneer Holdings Pvt Ltd (Maharashtra)
  • Easyaccess Financial Services Ltd (Tamil Nadu)
  • Eastern Credit Capital Pvt Ltd (West Bengal)
This wave of exits and cancellations reflects tightening regulations and a shift toward stronger financial governance in India’s NBFC sector.
 
Sources: Moneylife, RBI Press Release, Reed Law

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