Know About NBFC And Its Significance

NBFC or Non-Banking Financial Company provides you with banking and other leading services meeting any legal definition of a bank. It is been incorporated under the Companies Act 1956 or Companies Act 2013. Every NBFC has to have the Commencement of Business certificate from the RBI as mentioned in Section 45 I (a) of the RBI act, read through the regulations of NBFC.

NBFC shall not keep it up or commence the business of a Non-banking financial organization without getting a certificate of Registration which is issued by the Federal Reserve Bank of India. The license of NBFC or the registration generally records after 90-120 days.

The main business of NBFC is to provide loans and advance, debentures, acquisition of shares and other stocks which are issued by the Government or other such local authorities, leasing, insurance business, hire or purchase, etc.

The other non-banking institutions which are incorporated as a corporation under the act and who have the principal business of receiving deposits under any kind of scheme or any kind of arrangement in one installment or payment is an NBFC.

What are the types of NBFC in India?

NBFC is categorised by the nature of the activity. Some are as follows:

• Asset financial company

• Loan Company

• Core investment company

• Investment company

• Infrastructure finance company

• Microfinance company

• Housing finance company

• Mortgage guarantee company

The nature of the deposits which they undertake, NBFC is often categorised into the following:

• Deposit accepting NFBC

• None deposit accepting NBFC

NBFC can future categorised into two other categories as well depending on the minimum capital requirement or the size. They are:

• Systematically important NBFC

• Non-deposit holding NBFC

How Does The NBFC Consultant Provide Non-Banking Financial Services?

The interlinked advisor always provides specialised services information to the NBFC incorporation in Delhi and other such major cities if India. The interlink advisors also help you to buy or sell or manage transfer etc. There are several enabled financial and legal solutions for NBFC in association with a sizable amount of the investment bankers are available.

The Registration Procedure of NBFC

Anyone who desires to commence the business and wants to be registered as NBFC should apply to RBI for the license and should also fulfill the two basic and subsequent norms.

• It should be an incorporated company under the 2013 companies act

• It should also be a corporation that has a minimum net owned fund of around INR 2 crores.

• On the RBI website, you will get the online application.

• The text of the application should be submitted with an attached document and should be submitted at the RBI office.

This was all that you should know about the Non-Banking Financial Services in Delhi and other major cities of the country. Apart from these there are other services also such as export promotion, good and service tax, issue management, deemed export, ISO certification, IPO listing, SME listing, MEI’s scheme and several other such services. You can inquire about them in detail online.