Regulating Non-Banking

Detailed instructions on matters related to engagement of recovery agents have been issued to Scheduled Commercial Banks (excluding Regional Rural Banks) and Housing Finance Companies currently. Upon a review, it has been decided to issue comprehensive instructions to all regulated entities on conduct related matters in recovery of loans and engagement of recovery agents, which inter alia cover aspects such as fair treatment to borrowers during recovery process, conduct of lender’s employees and recovery agents, due diligence, training, code of conduct for recovery agents, etc.

Currently, instructions on customer appropriateness and suitability and other related matters in the context of insurance agency business have been issued to Scheduled Commercial Banks (excluding Regional Rural Banks) and Housing Finance Companies. Upon a review, it has been decided to issue comprehensive instructions on advertising, marketing and sales of financial products and services (including third-party products and services) to all banks and NBFCs, which shall include various aspects related thereto, such as activities of Direct Sales Agents (DSAs) / Direct Marketing Agents (DMAs), dark patterns, prevention of mis-selling, etc.

The Reserve Bank had announced, as part of the Statement on Developmental and Regulatory Policies dated February 06, 2026, to issue draft Amendment Directions for exemption from registration to eligible NBFCs not availing public funds and not having customer interface (including ‘Type I NBFCs’). Accordingly, the draft Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026 have been issued for public comments.

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 (CoR) of the following companies. Sr No Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Kanoi Leasfin Ltd 13A Dacres Lane, 7th Floor, Kolkata, 700069 05.00376 February 26, 1998 January 09, 2026 2 Aditi Sanchar Suvidha Pvt Ltd Siddha Weston 9, Weston Street, 2nd Floor, Room No. 229, Dharmatala, Kolkata, 700013 B.05.04609 October 15, 2001 January 09, 2026 3 Welmen Dealcomm Pvt Ltd 45 Shakespeare Sarani, Room No. 303, Century Towers, Kolkata, 700017 B.05.04333 September 07, 2001 January 16, 2026

The following eight 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. i) Cancellation of CoR due to exit from Non-Banking Financial Institution (NBFI) business