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 ...