Registration of 10 More NBFCs from West Bengal Cancelled by RBI on Supervisory Concerns
Moneylife Digital Team 15 January 2025
The Reserve Bank of India (RBI) has cancelled the certificates of registration (CoR) of 10 non-banking financial companies (NBFCs) based in West Bengal, citing supervisory concerns.
 
The companies affected by this action include East India Leasing Company Ltd, Kakrania Trading Pvt Ltd, Ekdant Capital Markets Pvt Ltd, Goldstar Business Pvt Ltd, and Cyber Advisory Services Pvt Ltd.
 
Other companies involved are: Jit Finance Pvt Ltd, Baviscon Marketing Pvt Ltd, Jyoti Vikas Trade Pvt Ltd, Aspective Distributors Pvt Ltd, and JM Textiles Pvt Ltd.
 
This decision was made by the central bank under Section 45-IA (6) of the RBI Act, 1934, with the cancellation order issued on 9 January 2025. 
 
Following the cancellation of their registrations, these NBFCs are no longer permitted to operate as NBFCs.
 
This decision is part of RBI's ongoing efforts to ensure compliance and maintain the stability of the financial system, the central bank says.
 
Last week, RBI cancelled the registration of 10 NBFCs in West Bengal on supervisory grounds. The list included: Adhay Equi Pref Pvt Ltd, Agarani Credit and Finvest Pvt Ltd, Amot Goods and Suppliers Pvt Ltd, Anchal Credit Capital Pvt Ltd, Anika Tie-Up Pvt Ltd, Anita Finvest Pvt Ltd, ANM Financial Services Ltd, Anuvrat Transport System Ltd, Apurva Finance Pvt Ltd and Arion Commercial Pvt Ltd. (Read: RBI Cancels Registration of 10 NBFCs in West Bengal
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