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We started with a simple idea.

FINLAW

Non-banking financial companies, or NBFCs, are financial institutions that provide banking services, but do not hold a banking license. These institutions are not allowed to take deposits from the public. Nonetheless, all operations of these institutions are still covered under banking regulations NBFCs offer most sorts of banking services, such as loans and credit facilities, private education funding, retirement planning, trading in money markets, underwriting stocks and shares, TFCs(Term Finance Certificate) and other obligations. These institutions also provide wealth management such as managing portfolios of stocks and shares, discounting services

e.g. discounting of instruments and advice on merger and acquisition activities. The number of non-banking financial companies has expanded greatly in the last several years as venture capital companies, retail and industrial companies have entered the lending business. Non-bank institutions also frequently support investments in property and prepare feasibility, market or industry studies for companies.

However they are typically not allowed to take deposits from the general public and have to find other means of funding their operations such as issuing debt instruments.

Based on their Liability Structure, NBFCs have been divided into two categories :

1. Category ‘A’ companies (NBFCs accepting public deposits or NBFCs-D).
2. Category ‘B’ companies (NBFCs not raising public deposits or NBFCs-ND).

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CURRENT Article

We started with a simple idea.

NBFC Registration or Licensing

Our team of competent professionals expertise in providing assistance for setting up of NBFC and offer various related services to our clients who do not have to make any extra efforts for the formation of NBFC. At Finlaw we provide full services in regard to setting up of NBFC and other requirements needed for it.

A non-banking financial company (NBFC) is a company registered under the Companies Act, 2013 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business, but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property.

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What is an NBFC?

Non banking financial companies are financial institutions that provide banking services without meeting the legal definition of bank. Though the criteria of RBI to identify a company as NBFC, its financial assets are more than 50 percent of its total assets. Both these test are required to be satisfied as the determinant factor for principal business of company.

The registration of NBFC is important, RBI started regulating the activities of NBFC with the twin objective of ensuring that they sub serve the financial system and do not jeopardize the interest of depositors.IF a person want to register online pokie machines its company as a non banking financial company with RBI, one application is to be made to the RBI and along with various documents/instructions are to be submitted in duplicate like : -

Minimum NOF requirement of Rs 200 lakh. Application is to be submitted in two separate sets tied up Properly in two files. Annex 2 to be submitted duly signed by the director/Authorized signatory and certified bystatutory auditors.Minimum NOF requirement of Rs 200 lakh. Application is to be submitted in two separate sets tied up Properly in two files. Annex 2 to be submitted duly signed by the director/Authorized signatory and certified bystatutory auditors.

Some more documents are also needed along with all these above mentioned documents, If RBI deems fit that the applicant is satisfying all condition for its fulfillment, then RBI will issue unique NBFC registration number. NBFC registration number is having a great value from the legal point of view. NBFC number is also very important for RBI in regard to manage, and regulate thereon banking financial institutions.

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NBFC REGISTRATION

Procedure for NBFC Registration

Starting Stage

For every NBFC, starting the operation of its business, it is necessary to have a license from Reserve Bank of India. The procedure for NBFC registration begins with registered private or public limited company. But the objective of your registered company is totally financing.

Registration

NBFC registration is important, RBI started regulating the activities of NBFC with the twin objective of ensuring that they sub serve the financial system and do not jeopardize the interest of depositors.

Requirements

If a person wants to register online pokie machines its company as a non-banking financial company with RBI, one application is to be made to the RBI and along with various documents/instructions are to be submitted in duplicate like: -

  • Minimum NOF requirement of Rs 200 lakh.
  • The application is to be submitted in two separate sets tied up Properly in two files.
  • Annex 2 to be submitted duly signed by the director/Authorized signatory and certified bystatutory auditors.

Documents Needed

Some more documents are also needed along with all these above-mentioned documents, If RBI deems fit that the applicant is satisfying all condition for its fulfilment, then RBI will issue unique NBFC registration number. NBFC registration number is having an excellent value from the legal point of view. NBFC number is also very important for RBI regarding manage and regulate thereon banking financial institutions.

For obtaining proper and secure NBFC license the following are requirement include: -

  • A company registered under Companies Act is given in 2013 or previous Companies Act, 1956
  • You should have minimum net owned funds of INR 2 crore. For investor desirous of setting up an NBFC in India and mostly this amount to be present in company bank account at applying for NBFC Registration in India.You should have a clean CBIL records
  • If total financial flow of your business more than 50% the total capital assets of the company then getting NBFC certificate is mandatory.

Also, application for NBFC Registration can be obtained from the RBI website along with information regarding the document needed. Generally, NBFC License can be obtained in 100 to 120 days. As compared to a previous year now the NBFC formation procedure is much easier.

Why FINLAW?

As a NBFC consultant our team of competent professional’shas expertise in providing assistance for setting up of NBFC and offer various related services to our clients, so they don’t have to make any extra efforts for the formation of NBFC. At Finlaw we provide full services in regard to setting up of NBFC and other requirements needed for it.




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