The Certificate of Registration issued to the following Non-Banking Financial Company (NBFC) has been restored after considering the orders passed by the Appellate Authority/Courts. The NBFC is advised to adhere to the applicable provisions of the RBI Act, 1934, and guidelines/directions issued by the RBI including reporting requirements.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Paridhi Trading Company Pvt Ltd 2nd Floor, Apsara Cinema Building, Dr D.B. Marg, Grant Road, Mumbai, Maharashtra - 400007 13.00973 August 12, 1998 June 25, 2025

The following seven Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

The various services offered by Reserve Bank of India (RBI) to the entities regulated by it and to the citizens of the country were listed under two distinct heads viz. Timelines for Regulatory Approvals and Citizens’ Charter. Under Regulatory Approvals 133 services were made available, while the Citizens’ Charter had 58 services. A comprehensive review of the services offered by RBI has been undertaken and the timelines have been rationalised leading to reduction of time in 11 services. All services to the regulated entities and to the citizens have been subsumed under the Citizen’s Charter. The Citizen’s Charter now contains 204 services.

The Reserve Bank had issued draft guidelines on ‘Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under Implementation’ on May 03, 2024, for stakeholder comments. The draft guidelines proposed an enabling framework for the regulated entities (REs) for financing project loans, while addressing the underlying risks.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following company. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Wofin Leasing and Finance Private Limited 7 Ganesh Chandra Avenue, PS: Bowbazar, Kolkata, West Bengal 700013 B-05.06747 March 13, 2008 May 16, 2025

The following four Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC): Name of the NBFC Registered Office Address CoR No. CoR issued on Name of the service provider (mobile app)

The Reserve Bank had, on December 19, 2023, issued guidelines relating to investment by the regulated entities (REs) in Alternative Investment Funds (AIFs), with the objective of addressing certain concerns relating to possible evergreening through this route. Subsequently, certain clarifications were issued vide circular dated March 27, 2024.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following company. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 R.L. Investment and Finance Company Limited 61/211, Canal Road, Kanpur, Uttar Pradesh – 208001 12.00010 February 21, 1998 April 08, 2025

The following four Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

Reserve Bank of India has from time to time issued various directions and circulars on digital lending by Regulated Entities (REs). As part of the efforts to consolidate various regulatory instructions and streamline them, consolidated directions on the subject have been prepared and issued as the Reserve Bank of India (Digital Lending) Directions, 2025 today. 2. Further, instructions on the following two aspects have also been included as part of these Directions for the first time:

The Reserve Bank is committed to achieving end-to-end digitization of all internal workflows involved in regulatory approval processes to enhance efficiency, transparency, and timeliness in service delivery. To this end, the Reserve Bank had launched PRAVAAH (Platform for Regulatory Application, Validation And AutHorisation) portal on May 28, 2024 to streamline online applications for regulatory authorisations, licenses, and approvals ensuring seamless, secure and faster delivery of services in a transparent manner.

The Certificate of Registration issued to the following Non-Banking Financial Company (NBFCs) has been restored after considering the orders passed by the Appellate Authority/Courts. The NBFC is advised to adhere to the applicable provisions of the RBI Act, 1934, and

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

The following 11 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies today, the Reserve Bank has released the draft Directions on the following subjects: i) Reserve Bank of India (Securitisation of Stressed Assets) Directions, 2025 ii) Reserve Bank of India (Co-Lending Arrangements) Directions, 2025 iii) Reserve Bank of India (Lending Against Gold Collateral) Directions, 2025 iv) Reserve Bank of India (Non-Fund Based Credit Facilities) Directions, 2025

The Reserve Bank held a Conference for the large-sized Non-Banking Financial Companies (NBFCs) on March 28, 2025, in Chennai. Chairpersons of the Audit Committee of the Board (ACB), MD & CEOs and the Statutory Auditors of the NBFCs attended the Conference. The Conference was a part of the series of supervisory engagements that the Reserve Bank has been having with key stakeholders of its Regulated Entities. The theme of the Conference was ‘Shared Vision, Shared Responsibility: Strengthening the NBFCs’. The Conference was attended by over 200 participants.

The Financial Sector Assessment Program (FSAP), a joint program of the International Monetary Fund (IMF) and the World Bank (WB), undertakes a comprehensive and in-depth analysis of a country’s financial sector. Since September 2010 the exercise has become mandatory for jurisdictions with systemically important financial sectors. Currently, it is mandatory for 32 jurisdictions including India, every five years, and for another 15 jurisdictions every ten years. Last FSAP for India was conducted in 2017 and the Financial System Stability Assessment (FSSA) report was published by IMF on 21st December, 2017.

In exercise of powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934 (the Act), the Reserve Bank of India by its order dated March 24, 2025 has cancelled the Certificate of Registration No. B-03.00016 dated February 20, 1998 issued to M/s. Unitara Finance Limited, CIN No. U65921MP1994PLC008248, having its Registered Office at 70, Transport Nagar Indore, Madhya Pradesh- 452001 for carrying on the business of a Non-Banking Financial Institution as defined in section 45-I(a) of the Act. The company therefore cannot carry on the business of a Non-Banking Financial Institution under the Act.

The Certificate of Registration issued to the following Non-Banking Financial Companies (NBFCs) has been restored after considering the orders passed by the Appellate Authority/Courts. These NBFCs are advised to adhere to the applicable provisions of the RBI Act, 1934, and guidelines/directions issued by the RBI including reporting requirements.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Doyen Vyapaar Private Limited 8A & 8B, Satyam Towers 3, Alipore Road, Kolkata, West Bengal - 700027 05.00072 February 14, 1998 February 06, 2025

The following 3 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

Reserve Bank of India had introduced the Account Aggregator (AA) framework in September 2016. The AA framework facilitates secure and seamless exchange of specified financial information through Non-Banking Financial Company-Account Aggregators (NBFC-AAs), which act as intermediaries between Financial Information Providers (FIPs) and Financial Information Users (FI-Us). These FIPs and FI-Us fall under the purview of different Financial Sector Regulators (FSRs), i.e., Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority of India. Further, Department of Revenue is deemed to be the regulator for Goods and Services Tax Network for the purpose of onboarding the AA ecosystem.

It may be recalled that, in exercise of powers conferred under Section 45-IE (5) (a) of the RBI Act, 1934, the Reserve Bank had, on January 30, 2025, constituted a three-member Advisory Committee to assist Shri Ram Kumar, Administrator of Aviom India Housing Finance Private Limited (AVIOM) in discharge of his duties. The members of the Committee are:

The Certificate of Registration issued to the following Non-Banking   Financial Company (NBFC) has been restored after considering the orders   passed by the Appellate Authority/Courts. This NBFC is advised to adhere   to the applicable provisions of the RBI Act, 1934, and   guidelines/directions issued by the RBI including reporting   requirements.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

The following 20 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

The Reserve Bank of India, on January 27, 2025, has superseded the board of directors of Aviom India Housing Finance Private Limited, and appointed Shri Ram Kumar, ex-Chief General Manager, Punjab National Bank, as the Administrator. In exercise of powers conferred under Section 45-IE (5) (a) of the RBI Act 1934, the Reserve Bank has constituted a three-member Advisory Committee to assist the Administrator in discharge of his duties. The members of the Advisory Committee are as follows:

The Reserve Bank of India has today (January 30, 2025) filed an application for initiation of CIRP against Aviom India Housing Finance Private Limited, under Section 227 read with clause (zk) of sub-section (2) of Section 239 of the Insolvency and Bankruptcy Code (“IBC”), 2016 read with Rules 5 and 6 of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudication Authority) Rules, 2019 (“FSP Insolvency Rules”) at the New Delhi Bench of the Hon’ble National Company Law Tribunal.

In exercise of the powers conferred under Section 45-IE(1) of the Reserve Bank of India Act, 1934, and as per recommendation of National Housing Bank (NHB), the Reserve Bank has today superseded the board of directors of Aviom India Housing Finance Private Limited (the company) owing to governance concerns and defaults in meeting various payment obligations, and appointed Shri Ram Kumar, ex-CGM of Punjab National Bank, as the Administrator under Section 45-IE(2) of the Reserve Bank of India Act, 1934. The Reserve Bank intends to shortly initiate the process of resolution of the company under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019, and would also apply to the NCLT, New Delhi, for appointing the Administrator as the Insolvency Resolution Professional.

In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC):

The Reserve Bank of India announced today the list of NBFCs in the Upper Layer under Scale Based Regulation for NBFCs for the year 2024-25. 2. The Reserve Bank had issued the Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs (the framework) on October 22, 2021. The framework categorises NBFCs in Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL) and gives the methodology to identify the NBFCs in the Upper Layer as per their asset size and scoring methodology. Accordingly, the 2024-25 list of NBFC-UL is as under:

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

The following seven Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

On October 17, 2024, the Reserve Bank of India had, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to the following NBFCs:

The Reserve Bank of India has today issued the Master Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025. The Master Direction consolidates the existing instructions on credit information reporting and dissemination, issued to the regulated entities (REs) of the Reserve Bank.

On October 17, 2024, the Reserve Bank of India had, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to Arohan Financial Services Limited, Kolkata, to cease and desist from sanction and disbursal of loans, effective from close of business as of October 21, 2024.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies

On May 29, 2024, the Reserve Bank of India had, in exercise of its powers under the Reserve Bank of India Act, 1934 and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) imposed business restrictions on the following supervised entities respectively, belonging to the Edelweiss Group.

On October 17, 2024, the Reserve Bank of India had, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to Navi Finserv Limited, Bengaluru (and three other NBFCs), to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024.

In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the CoR issued to the following Non-Banking Financial Company (NBFC): Name of the NBFC Registered Office Address CoR No. CoR issued on Name of the services provider/mobile app Zavron Finance Private Limited PL. No.125, Sitabuldi, Maharajbaugh Road, Nagpur, Maharashtra – 440012 N-13.02268 August 03,2018 Ajaya Solutions Pvt. Ltd. (RupeeMax), Binenace Information Technology Pvt. Ltd., Microcard India Technology Consulting Service Private Limited, Truthigh Fintech Pvt. Ltd., Jcflash Technologies Pvt. Ltd. (FlashCash), Gradlane Systems Pvt. Ltd., Cash Bull Financial Technology Private Limited (Cash Bull), Onion Credit Private Limited (Cash Mama), TYTO Network Technologies Private Limited (Tytocash), Crazyrupee and Zincash. 

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Ulhas Securities Private Limited Q-202, Coral, Parshwanath Atlantis Park, Near Balaji Agora Mall, S.P. Ring Road, Gandhinagar, Gujarat - 382424 N.01.00462 December 08, 2003 September 24, 2024 2 Sikar Investment Co Ltd Shri Ramji Sadan, 30-B, New Civil Lines, Bharatpur City, Bharatpur, Rajasthan -321001 10.00029 March 06, 1998 October 07, 2024 As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934. 

The following Six Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

The Reserve Bank of India has today, in exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued Directions to the following NBFCs to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024:

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

The following seven Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

The following 13 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.