On Friday, the Reserve Bank of India (RBI) announced that 15 Non-Banking Financial Companies (NBFCs), including Tata Capital Financial Services and Revolving Investments, have relinquished their registration certificates. This decision was made due to various reasons, which we will delve into in the following sections.
The sector’s dynamics have seen a significant shift as nine NBFCs, including Tata Capital Financial Services, Tata Cleantech Capital, Naperol Investments, USG Financial Services, Urja Capital, Vandana Dealers, ABRN Finance, Jodhani Management, and JDS Securities, have ceased to exist as legal entities due to processes such as amalgamation, merger, dissolution, or voluntary strike-off.
Additionally, the RBI disclosed that six NBFCs surrendered their registration certificates after discontinuing their operations in the Non-Banking Financial Institution (NBFI) sector. These entities are Vian Growth Capital, Drap Leasing and Finance, Jewel Strips, Revolving Investments, Anshu Leasing, and A V B Finance. These events unfolded over a period of [specific timeline], which we will outline in the next section.
These certificates of registration had been granted to them by the RBI.