What is NBFC Registration Process in India?
NBFC Registration
Companies seeking to provide Non-Banking Financial Services must register with the RBI under the provisions of the RBI Act of 1934 and the Companies Act of 2013. A Non-banking Financial Company is now an important part of our economy. This type of business entity facilitates loans to individuals whose needs were previously unmet by traditional financial institutions through peer-to-peer lending. This business entity, which is registered under the company act, offers the following banking services:
Loan facilities
Advances
Accepting deposits
Leasing
Hire purchase
Retirement planning
Securities trade
Money market trade
Merger activities
Underwriting facilities
They can raise funds in two ways: publicly or indirectly through public, cooperative, or commercial banks. These institutes offer the aforementioned services to small and micro businesses, as well as individuals. Because of the NBFCs' emphasis on providing the most flexible services with the shortest procedures, deposit rates have increased. As a result, the NBFC has become one of India's leading financial institutions.
Eligibility Criteria for NBFC Registration in India
The following are the eligibility requirements for NBFC registration:
The applicant must be a company incorporated under the Companies Act of 1956.
The net owned fund of the applicant should be INR 2 crore.
The company's director's credit profile should not be set to default.
At least one company member should have prior experience with credit and banking operations.
Our Guidance in Obtaining an NBFC Registration in India
MUDS can help you with your registration by offering the following services:
Document creation
Filing of an Application
Application processing
Finishing the registration
As a result, contact us if you need an NBFC registration in a short period of time and at a low cost.
To know more visit https://muds.co.in/nbfc-registration-process/