Easily register a Non-Banking Financial Company (NBFC)

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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Non-Banking Financial Company (NBFC) Registration

A Non Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013. 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.

A company which has principal business of receiving deposits under any scheme or arrangement in one lump sum or in instalments by way of contributions or in any other manner is a non-banking financial company (Residuary Non-banking Company).

Banks prefer large organisations and people having high credit rating. NBFC can deal with organised and unorganised sectors in market. The reach of NBFC is ever growing and sky is the limit for them.

The Reserve Bank of India issues a license to a Company willing to be recognised as a NBFC. The Company, to whom RBI has issued a license or a commencement certificate, can function as a NBFC in India.

At Afleo, our Business Consultants will solve all your queries regarding NBFC Registration which will help you have a proper understanding about the benefits and its provisions. With us, you can register a NBFC with ease. Our team puts the consumer first, and works meticulously to ensure that documents are filled correctly and swiftly. Afleo is leading service provider for NBFC Registration in Mumbai, Delhi, Chennai, Hyderabad and Bangalore as well as across entire India.

Types of Non-Banking Financial Company (NBFC)

Based on the nature of the Company

• Asset Finance Company • Loan Company • Core Investment Company • Investment Company • Infrastructure Finance Company • Micro Finance Company • Housing Finance Company • Mortgage Guarantee Company

Based on deposits held by the Company

• Deposit accepting NBFC • Non- deposit accepting NBFC

Based on Minimum Capital of the Company

• Systematically Important NBFC • Non Deposit Holding NBFC

Documents required for registration of NBFC

Certified Copy of the Certificate of Incorporation.

Extract of Main Object clause of the Company describing its financial nature.

Audited financial statements of the Company including auditor’s report and director’s report for the time period for which company was in existence and or for last three years, whichever is less.

Copy of director’s highest education of professional qualification certificate.

Copy of director’s experience certificate in financial service sector or banking sector.

Bankers report on details of deposits and loan balances as on the date of application.

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NBFC Registration Procedure

Obtain Information/ Documents

After solving all your queries about NBFC, we will obtain all the necessary information and documents including DSC and DIN from the applicant.

Obtain Certificate of Incorporation

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.

Apply with RBI

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.

How we help with NBFC Registration?

Afleo.com can easily register NBFC within 90-120 working days

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Frequently Asked Questions

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:
https://www.rbi.org.in/Scripts/FAQView.aspx?Id=92

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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