🧨 At a Glance
- RBI has officially cancelled the NBFC license of M/s N.Y. Leasing Pvt Ltd, operating via:
- 🔹 Shine Loan App
- 🔹 Curry Cash App
- Reason? They violated RBI’s digital lending norms by:
- Outsourcing KYC, loan disbursal, recovery & sourcing
- Letting third-party app handlers do core lending decisions
- Registered since 1998 — now blacklisted permanently
“You were supposed to disburse loans, not **disburse all your power to shady app handlers.” — RBI, probably.
🏚️ Company Details
| Field | Detail |
|---|---|
| 📛 NBFC Name | M/s N.Y. Leasing Pvt Ltd |
| 🏢 Registered Address | Plot No.-54A, 3rd Floor, Shiv Park, Sector-15, Dwarka, Delhi-110078 |
| 📆 CoR Issued | March 6, 1998 |
| 💥 CoR Cancelled | May 29, 2025 |
| 🧑💻 Lending App Names | Shine Loan App, Curry Cash App |
| 👻 Operated By | Bardhaman Fintech Pvt Ltd |
🚩 What Did They Do Wrong?
As per RBI:
“The company outsourced all core lending operations to third-party fintech — including customer acquisition, KYC, disbursement, collection, and recovery.”
Let’s simplify:
- They gave third parties full access to your personal data
- Those parties probably never followed KYC rules properly
- Recovery calls may
- have sounded more like threats than reminders
This violates RBI’s Fair Lending Code and Digital Lending Guidelines 2022.
⚖️ The Legal Angle: RBI’s Powers
Under Section 45-IA (6) of the RBI Act, 1934, the RBI has powers to:
- Cancel NBFCs’ Certificate of Registration (CoR)
- If they act against public interest or violate guidelines
- Or if they conduct lending through unauthorized apps or agents
In this case, NY Leasing turned into a fintech puppet — and got axed.
🤳 What Are Shine Loan & Curry Cash?
Apps marketed as:
- “Instant loans within 5 minutes”
- “No paperwork required”
- “Credit score not needed”
But here’s the real deal:
- High-interest rates hidden behind T&Cs
- Shady permissions (contacts, camera, storage access)
- Recovery agents behaving like goons from a gangster movie
This is classic loan sharking masked as
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