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Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 involved in the principal business of lending, investments in shares/stocks/bonds/debentures, leasing, hire-purchase, insurance business, chit business or involved in the receiving of deposits under any scheme or arrangement. NBFC is under the purview of the Reserve Bank of India (RBI) and in this article
There are two types NBFC Registration
(1) Deposit Accepting NBFC
(2) Non Deposit Accepting NBFC
(1) Register the company under the Companies Act 2013 or under Companies Act 1956.
(2) Minimum Net Owned Funds of the Company should be Rs. 2 crore or more
(3) There should be atleast 1 director in the company from the same background.
(4) Good CIBIL score is required to present in order to register as NBFC.
(5) Next, visit RBI’s official website and fill in the application form.
(6) Submit all the required documents along with the application form.
(7) Once you have submitted the application form, a CARN number will be generated
(8) Send the hard copy of the application to the regional branch of RBI.
(9) After the application is checked and verified, the License will be given to the company.
(1) Certificate copy of MOA/AOA
(2) Net worth certificate of diectors
(3) Highest experience certificate
(4) Directors and shareholders busienss profile
(5) KYC details, PAN of the company
(6) Audit balance of last 3 years from the date of incorporation
(7) Income tax returns
(8) Loan structure
(9) IT Policy
(1) What is NBFC Registration?
(2) Can exisiting company apply for NBFC license?
(3) What will be the total fees for NBFC Registration?
(4) Can NBFC applicant take loan to meet the minimum capital requirment?
(5) What type of loans can be given by NBFCS?
(6) What if NBFC License got cancelled by RBI?
