The Reserve Bank of India has cancelled the Certificate of Registration (CoR) of 35 non-banking financial companies for non-compliance with regulatory requirements, marking a significant enforcement action by the central bank. The cancellations, effective between December 9, 2025, and December 31, 2025, were issued under Section 45-IA(6) of the Reserve Bank of India Act, 1934.

Regulatory Action Details

The central bank stated that these companies are no longer permitted to carry out the business of non-banking financial institutions. The majority of the affected NBFCs are concentrated in Delhi, with several others located in Mumbai, Jabalpur, and New Delhi.

Companies with Cancelled Registrations

The affected companies span various business segments within the NBFC sector:

Delhi-based NBFCs (Majority):

• A G Securities Private Limited
• ATM Credit & Investments Pvt. Ltd
• Corporate Capital Services India Private Limited
• Decisive Finance Private Limited
• Divine Investments Private Limited
• Liberty Sales Pvt. Ltd
• Pearls Hire Purchase Corporation Limited
• Quasar India Fincap Private Limited
• Sunlife Securities Private Limited
• Sunrise Manufacturing Co Ltd
• Swito Finance & Estates Private Limited
• Triveni Vinimay Private Limited
• Twenty First Century Marketing Ltd
• Unitron Finlease Limited
• Veera Securities and Finlease Private Limited
• Vini Financial and Management Consultants Private Limited

Other Major Cities:

• Satya Prakash Capital Investment Limited (Jabalpur)
• ALB Leasing & Finance Ltd (New Delhi)
• Shivom Investment & Consultancy Limited (Mumbai)

Voluntary Surrenders by NBFCs

In addition to the cancellations, 16 NBFCs voluntarily surrendered their CoR to the RBI, leading to registration cancellation for various strategic and operational reasons.

Business Exit Category:

• Dharmesh Stock Broking Pvt. Ltd (Mumbai)
• Millennium Holdings Pvt. Ltd (Kolkata)
• Celestial Consultants Pvt. Ltd (Kolkata)
• Damayanti Finance & Properties Pvt. Ltd (Chennai)
• Liquid Paper Finserve Pvt. Ltd (Delhi)
• Peerless Financial Services Ltd (Kolkata)
• Park Avenue Engineering Ltd (Mumbai)
• Arvind Overseas Project Services Pvt. Ltd (Delhi)

Core Investment Company Criteria:

• Shyam Basic Infrastructure Projects Pvt. Ltd (Jaipur)
• Shruti Finsec Pvt. Ltd (Kanpur)
• Sita Investment Company Ltd (Raipur)

Corporate Restructuring:

• Edelweiss Retail Finance Ltd (Mumbai)
• Super Commodities Pvt. Ltd (Kolkata)
• Silfix Tradelink Pvt. Ltd (Kolkata)
• Sakthi Traders Pvt. Ltd (Kolkata)
• Yaduka Financial Services Ltd (Kolkata)

Regulatory Implications

This enforcement action demonstrates the RBI's continued focus on maintaining regulatory compliance within the NBFC sector. The cancellations affect companies across various NBFC categories including investment, leasing, finance, and securities firms. The geographical concentration of cancelled registrations, particularly in Delhi, suggests potential regional compliance challenges or concentrated regulatory scrutiny in specific markets.

Bank of India has announced a significant restructuring of senior management assignments effective January 7, 2026, as disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015. The public sector bank has reassigned four senior executives to new portfolios, reflecting a strategic realignment of leadership responsibilities across key business divisions.

Management Restructuring Details

The bank has implemented a comprehensive reshuffle involving senior executives across critical banking operations. The changes encompass retail banking, corporate credit, treasury operations, recovery functions, and resource mobilization activities.

Key Portfolio Transitions

The restructuring involves strategic cross-functional moves among senior leadership. Shri Ashok Kumar Pathak has transitioned from overseeing retail, rural, and MSME operations to managing corporate credit, treasury, international operations, and Foreign Business Division (FBD). Meanwhile, Shri Nitin G Deshpande has moved in the opposite direction, taking charge of retail, rural, MSME, financial inclusion, and the newly added digital lending portfolio.

Shri Sharda Bhushan Rai has shifted focus from resource mobilization and marketing functions to credit monitoring, recovery operations, Stressed Assets Resolution Department (SARD), and legal affairs. Conversely, Shri Prashant Thapliyal has moved from credit monitoring and recovery to resource mobilization, Corporate Employee Banking Business (CEBB), publicity, marketing, wealth management, third-party products, and government business operations.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, specifically under sub-clause 7 of para A, part A, of schedule 3. The disclosure was signed by Rajesh V Upadhya, Company Secretary, and communicated to both the National Stock Exchange of India Ltd. and BSE Ltd. on January 7, 2026.

Strategic Implications

The management reshuffle reflects the bank's approach to leveraging diverse leadership expertise across different business verticals. The assignments combine traditional banking operations with emerging areas such as digital lending, indicating the institution's focus on modernizing its service offerings while maintaining strength in core banking functions.