Non Banking Financial Company ( NBFC) is a company registered under the Companies Act 1956/2013 which can do financial business but not banking business. Non Banking Financial Company ( NBFC) is mainly engaged in the following types of business: Acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature
Loans and Advances
Hire Purchase
Insurance Business
Leasing
Non Banking Financial Company ( NBFC) is regulated by Reserve bank of India.
Following are the types of Non Banking Financial Company ( NBFC)
Asset Finance Company(AFC)
Investment Company (IC)
Loan Companies (LC)
Infrastructure Finance Company (IFC)
Systemically Important Core Investment Company (CIC-ND-SI)
Infrastructure Debt Fund (IDF-NBFC)
Non-Banking Financial Company – Micro Finance Institutions
Non-Banking Financial Company – Factors (NBFC-Factors)
1 STEP
Register a Private Limited Company or a public limited company with a minimum capital as per the requirement of the type of NBFC.
2 TEP
Deposit the capital into the fixed deposit and obtain a certificate
3 STEP
Arrange all the required documents for NBFC license such as : i. Certified copies of Certificate of Registration
ii. Certified copies of MOA& AOA.
iii. Copy of Board resolution
iv. Copy of FD receipts and the certificate from the banker about the no lien certificate.
v. Bankers report for Applicant Company, group companies.
vi. Promoters profile which describes their experience in the finance field
4 STEP
File online application on the cosmos.rbi.org.in
5 STEP
After filing the application online, prepare a complete set of physical documents and submit the same to the regional office of the Reserve bank of India.
6 STEP
Follow up with RBI : The NBFC registration usually takes around 3 to 6 months
Click here for frequently asked questions on NBFCs complied by Reserve Bank of India
NBFC REGISTRATION
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