The Reserve Bank of India cancelled registrations of several NBFCs (Non-Banking Financial Companies) as part of its ongoing regulatory cleanup drive, with most cancellations relating to entities registered in West Bengal. Additionally, 13 NBFCs voluntarily surrendered their registrations due to business exits, mergers, amalgamations, or compliance with regulations for unregistered Core Investment Companies (CICs). Separately, the Government extended the term of RBI Deputy Governor Swaminathan Janakiraman by two years from June 26, 2026. He oversees RBI's regulation portfolio covering commercial banks, NBFCs and co-operative banks.
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RBI Cancels NBFC Registrations in Regulatory Cleanup; Most From West Bengal; DG Swaminathan's Term Extended
Key Points
- The Reserve Bank of India cancelled registrations of several NBFCs (Non-Banking Financial Companies) as part of its ongoing regulatory cleanup drive, with most cancellations relating to entities registered in West Bengal
- Additionally, 13 NBFCs voluntarily surrendered their registrations due to business exits, mergers, amalgamations, or compliance with regulations for unregistered Core Investment Companies (CICs)
- Separately, the Government extended the term of RBI Deputy Governor Swaminathan Janakiraman by two years from June 26, 2026
- He oversees RBI's regulation portfolio covering commercial banks, NBFCs and co-operative banks
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• RBI cancels NBFC registrations (regulatory cleanup, July 2026); most from West Bengal • 13 NBFCs voluntarily surrendered; reasons: exits, mergers, amalgamations, CIC compliance • RBI DG Swaminathan Janakiraman: term extended 2 years from June 26, 2026; handles Regulation • NBFCs: regulated under RBI Act 1934, Chapter III-B; cannot accept demand deposits
