Ever think what a NBFC is and is it possible to register a NBFC in India? NBFC helps in wealth maximisation and is an attractive way to earn profit and expand your business horizons. Now, what exactly is a Non-Banking Financial Company? NBFC is a company which provides banking facilities but is a financial company and not a bank. Afleo offers registration of a NBFC.
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After solving all your queries about NBFC, we will obtain all the necessary information and documents including DSC and DIN from the applicant.
After the name is approved, central government will issue a Certificate of Incorporation. The Company must have minimum net owned funds of Rs. 2 crores.
An online application will be made to RBI through COSMOS which is available on RBI’s website. The hard copy of the application with the required attachments will be submitted to RBI.
Afleo.com can easily register NBFC within 90-120 working days
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A Non Banking Financial Company (NBFC) is a financial institution that offers banking services, but do not comply with the legal definition of a bank, i.e. it does not hold a bank license.
A NBFC is a Company registered under the Companies Act, 2013, which provides banking facilities but is a financial company and not a bank. The principal purpose for which NBFC is incorporated is carrying on the business of loans and advances, acquisition of shares/stocks /bonds /debentures /securities issued by Government or local authority or other marketable securities.
NBFC Registration fees is Rs. 6,50,000/- plus Government fees and GST.
RBI controls the working of all NBFC’s in India pursuant to RBI Act, 1934. Hence, for a NBFC to commence its operations, it’s mandatory to receive a certificate of commencement (license) from the Reserve Bank of India (RBI).
NBFC’s can raise funds through various sources such as investment from banks, insurance companies, public deposits, issue of debentures and inter corporate loans.
The addition of paid up equity share capital and free reserves as per the latest balance sheet of the company and deducting the prescribed items from it.
A NBFC can accept deposit from public maximum up to 1.1 times of net owned funds of the Company.
If a NBFC or any other unincorporated entity, such as partnership firms or proprietorship firms, accept public deposit without prior approval of RBI, the offence is liable under criminal offence. Also if a NBFC associates itself with any such unincorporated entity, it is still liable as a criminal offence.
For detailed information about NBFC regulations or NBFC guidelines you can visit following link:
Nidhi Company is a company which can accept deposit and lend money to its members. Nidhi Company has been exempted from the Reserve Bank of India (RBI) provisions, and hence RBI license is not mandatory, whereas a NBFC is a company registered under the Companies Act, 2013 and provides banking facilities but is not a bank. RBI controls the working of all NBFC’s in India pursuant to RBI Act, 1934. Hence, for a NBFC to commence its operations, it’s mandatory to receive a certificate of commencement (license) from the Reserve Bank of India (RBI).
Banking Ombudsman Scheme is a scheme introduced by RBI for redressal of complaints and grievance against the registered NBFC's. It provides cost-free mechanism against NBFC's providing deficient services.
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