NBFC Registration Process in India and Requirements in 2020 A Non-Banking Financial Company (NBFC) provides banking and other lending services without meeting the legal definition of a bank. It is Incorporated under Companies Act, 2013 or Companies Act, 1956 (Old). Every NBFC has to obtain Commencement of business certificate from RBI as defined under Section 45 I(a) of the RBI Act, Read NBFC Regulations. NBFC shall not commence or carry on the business of Non- Banking Financial Institution without obtaining a NBFC License issued by the Reserve Bank of India. NBFC registration or NBFC License can be obtained in 90-120 days. The principal business of NBFC is providing loans and advances, acquisition of shares, debentures and other stocks issued by Government or other local authorities, insurance business, leasing, hire-purchase, etc. Moreover, any other non-banking institution, incorporated as a company under the Companies Act and having the principal business of receiving deposits ...
NBFC Annual Compliance Checklist Non-Banking Financial Companies are playing a vital role in the development and upliftment of the infrastructure, economic development, creation of wealth, employment generation and especially have focused on the weaker sections of the society. NBFC Registration with RBI are offering a varied range of products to carry out a new segment, such as financing, leasing, housing finance and gold loans i.e. consumer durable finance by taking into consideration the following factors- Major focus on the customer segment by providing customized products offering and products. Optimize business model through improved efficiency and enhanced experience. Through the new and advanced technology, NBFCs are providing financial services to the various sectors of the society to the consumers to maintain a direct link and communication with them. Types of NBFC Registration: Based on the kind of activities they carry, NBFCs are of 3 types-...