The non-banking financial companies are those companies which help traders, investors, industrialists, entrepreneurs, and entities in diverse economic sectors in their business dealings and transactions involving industrial or other loans, financial deposits, investment funds, instruments of the money and capital markets, hire-purchasing, leasing, etc. These NBFCs are different from financial institutions, and commercial and co-operative banks. Thus, these non-banking financial companies (NBFCs) play a vital and highly significant role in between the public traders and investors and the institutions in the banking sector. Owing to this fully reliable and impeccable intermediation, these NBFCs are increasingly being recognized as welcome and great complementary to the banking and financial sector, in most of the fast progressing countries of the world. Hence, ours full-fledged law firm of worldwide prominence and acclamation, additionally offers legal and supportive services for nbfc registrations in countries worldwide, inevitably including India. Generally, these NBFCs are formed as per the provisions for these in the Companies Act in individual countries, and are registered and regulated by the top financial institution of the country, working under the ministry or department of finance. Ours well-informed, expert, and responsible nbfc registration services are appreciated highly and hugely in India and abroad.
NBFC Registration Services in India
Since December 2006, there are three main categories of NBFCs in India as asset finance companies, investment companies, and loan companies. Our seasoned and adept attorneys offer excellent and brisk services for nbfc registration in india, for these all categories, in every part of the country. Diverse requirements for such registration and the nbfc registration process are explained below.
In India, NBFCs are registered and regulated by the Reserve Bank of India, as per the rules and regulations given in the Section 45-IA of the RBI Act of 1934. Any company properly registered under the Companies Act of 1956, and doing business in any or more of the above-mentioned fields, is fully eligible for acquiring nbfc registration certificate, provided the interested company owns a minimum capital of Rs.2 Crore. If a company which does business in any of these fields with a total annual financial flow in business exceeding 50% of its own capital, then such as registration is mandatory. The applicant company will have to submit a well filled-in-up application in the prescribed format, along with all demanded enclosures, to the RBI, for consideration regarding such a registration. We help companies in filing of application, preparation of requisite documents, and all other activities during the whole nbfc registration process.