RBI has moved the voluntary surrender of NBFC and HFC licences into the digital age

In a press note dated 23 September 2025, the RBI has made NBFC/HFCs  that if they want to cancel their Certificate of Registration (COR) , they must now log on to the PRAVAAH portal launched last year.

PRAVAAH, which went live on 28 May 2024, was designed as a single window for every kind of RBI approval. 

The surrender-of-licence module has finally been plugged into the same dashboard, ending the e-mail and hard-copy submissions that were the norrm after the original December 2022 circular.

An applicant simply uploads the same pdf application form and the indicative checklist of documents that RBI circulated three years ago; the portal auto-acknowledges the filing and tags it to the regional supervisory office.

What has not changed is the status of the applicant. 

RBI underlines that merely hitting “submit” does not extinguish the licence: the entity continues to be an NBFC or HFC in the eyes of the law until the central bank formally issues a cancellation letter. That interim period can last several months. 

Meanwhile, the NBFC/HFC needs to continue adhering to the guidelines/instructions issued by the RBI/NHB/other competent authority, etc. and also continue submitting requisite regulatory/supervisory returns, as applicable till an official confirmation on cancellation of the COR is obtained.

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