NBFC Registration in Delhi/India (BLOG)
Nowadays NBFC registration is a highly popular service and many startups engaged in this are providing the NBFC registration in a swift manner. The premium services of NBFC registration in India, also specifying the importance of these companies in India, and complete procedures and requirements for registration of NBFC with RBI are specified below. The non-banking financial companies are companies who do not possess banking license but act as banks only. The distinction is that they are not commercial or co-operative banks, but they offer a variety of supportive services to public depositors, borrowers, and investors and some selected areas of business. NBFC’s help in deriving commercial and financial profits. Consequently, NBFC’s are ever growing, fast progressing and prosperous business inevitably in India after the demonetization. The usual and most preferred NBFC business in India is non-depository NBFC, loan companies, asset finance companies, leasing and finance, commercial and industrial loans and advances. Be it NBFC registration in Delhi, or all over the country, the process is the same that is obtaining NBFC license from Reserve Bank of India. NBFC’s are now diversifying to grow the credit business. The NBFC’s often referred to as shadow banks have played a bigger role in financing small businesses and individuals in India, by reining in credit for the economic growth. NBFC registration process, steps and procedure NBFC registration is compulsory under RBI. For obtaining a proper, secure registration there are certain compulsory requirements to be followed such as: •
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The applicant company has to be registered under the companies Act, 2013 with the main objectives to carry on the business of NBFC only. In case of non-depository, the objectives should include that the company shall not accept deposits from public. For the incorporation, the minimum paid up capital of the company should be INR 2 crore. Which means that the company has to show the net worth of the company at the starting of Rs. 2 crores. For foreign companies and investors desirous of setting up an NBFC anywhere in India, this minimum amount of paid up share capital is INR 5 crores. Once the company is incorporated, the final step shall be shall be the application to RBI for the NBFC license. A prescribed format for the same can be obtained from www.rbi.org.in along with the list of documents to be submitted by the company. Also an online application needs to be filled, once the website provides a Company Application Reference Number.
NBFC have been doing almost the same which compliments the banking system, by offering to do what the banks cannot do. However, NBFC’s are gaining recognition because they focus on a specific sector or size of companies in catering to credit needs of corporates.