NBFC Company registration in India
Do you also wish to start a banking and financing business, then get your NBFC registered now.
Do you also wish to start a banking and financing business, then get your NBFC registered now.
A Non-Banking Financial Company (NBFC) refers to a company which is engaged in the business of loans and advances, acquisition of shares/ stocks/ debentures/ bonds/ securities issued by Government or other marketable securities of a like nature. A company having principal business of receiving deposits under any scheme or arrangement in installments or one lump sum or by way of contributions or any other manner, is also called a non-banking financial company. It excludes business whose principal business is of Agricultural or Industrial Activity, Purchase or sale of any goods excluding securities, Sale/purchase/construction of any immovable property or Providing of any services.
Passport size Photograph for each Directors/ Shareholders.
Self attested Latest Electricity Bill / Bank Statement with latest entries/ Telephone Bill (any one).
Email ID & Mobile Number of directors and shareholders.
Bankers Certificate of no lien.
Certificates from Statutory Auditor specifying owned funds of company and not holding deposits from public.
NBFCs before granting any loan checks the credibility of the borrower through credit score and business history. This evaluation makes reliable recovery of loans.
Loans are offered on easy terms and conditions with fewer formalities. Making it suitable for small borrowers.
Unsecured loans to costumers by NBFCs facilitating borrower to take loan without any mortgage over assets or property.
Easy Loans provided by NBFCs increases the purchasing power of the individuals, which eventually contributes to enhancement of the standard of living.
Register a company the main object of carrying on the business of NBFC under Companies Act. Application to Reserve Bank of India for NBFC license can be made only by a registered company.
After the registration, Bank Account should be opened in the name of Company. subscription amount should be deposited in bank account of the company.
Application to RBI with required documents. After submission of application CARN number will be generated. A physical copy of the application for NBFC license should be submitted along with the required documents to the Regional Branch office of the RBI.
The Reserve Bank of India shall issue to the Company license for NBFC.
A NBFC is regulated by the Ministry of Corporate Affairs and Reserve Bank of India as well. It is a company registered under Companies Act, 2013 providing various financial and banking services like providing loans and advances, equities, debts, etc. issued by government or any other local authority. NBFC does not hold banking license but provides various banking services. These companies are not allowed to accept demand deposits from the public which differentiate it from banking companies.
Different types of Non Banking Financial Company are-
A NBFC is regulated by the Ministry of Corporate Affairs and Reserve Bank of India as well.
The minimum requirement of Non-Banking Financial Company (NBFC) are-
Steps involved in registration of NBFC are-
No, not all the NBFC are not permitted to accept deposits. Only the NBFC which are has taken specific permission from the RBI are allowed to accept deposits.
separate legal entity means that company being a legal person is entirely distinct from its members .As said “People may come people may go, company remains forever”. Company is capable of contracting, possessing properties in its own name and also can sue and can be sued by others in its own name.
Yes, NBFC registered in India required to have a registered office where all official communication received from MCA, governmental agencies, financial institutions, etc. The registered office of a company can be in any state of India.
DIN refers to an 8 digit unique identification number allotted by Central Government to any individual, who is intending to get appointed as director or to any existing director of a company, for the purpose of his identification.
A Digital Signature refers to an electronic signature duly issued by certifying authority. It shows the authority of the person signing it. It is an equivalent of a written signature. Digital Signature Certificate is mandatory for every user who is required to sign an e-form for submission with MCA.
Every NBFC is governed by the Reserve Bank of India (RBI) as per the provisions of RBI Act, 1934. Thus, all the NBFCs before commencing its business are required to obtain a license from RBI.
Yes, there are few companies which are regulated by other financial sector regulators and thus even getting involved in the financial activity, is exempt from taking NBFC license.
If any financial institution is found without NBFC license with RBI, then RBI can impose penalty or fine and even can be taken to the court of law.
