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NBFC DSA Registration

The term u201cNBFC DSA Registrationu201d denotes the registration of a person who works as a referral agent for NBFCs and Banks. However, in rural areas, these people are known as Business Correspondents.

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NBFC DSA Registration

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  1. NBFC DSA REGISTRATION A Guide on NBFC Direct Selling Agent

  2. Eligibility Criteria for Direct Selling Agent Benefits of Becoming NBFC Direct Selling Agent Benefits to Customers from NBFC DSA Benefits to Financial Institutions from DSAs Duties of NBFC DSA (Direct Selling Agents) Documents Required for NBFC DSA Registration Process of NBFC DSA Registration in India Conclusion Table of Contents Detailed Inside... SWARIT ADVISORS | 2020

  3. Overview The term “NBFC DSA Registration” denotes the registration of a person who works as a referral agent for NBFCs and Banks. However, in rural areas, these people are known as Business Correspondents. The main job of a Direct Selling Agent is to find potential customers for banks or NBFCs they represent. Further, the leads generated by these people are then forwarded to the concerned bank or NBFC. WHAT IS NBFC-DSA In this document, we will talk about the concept of Registration of Direct Selling Agents, and the benefits of becoming an NBFC DSA. SWARIT ADVISORS | 2020

  4. Defining Criteria Eligibility Criteria to Become DSA Must be an Indian Citizen above the age of 18 years Must know about the Financial Products Wants to work in Public Dealing Must have Good Communication and Convincing Skills Henry David Thoreau

  5. Benefits of Becoming NBFC DIRECT SELLING AGENT ProvidesAdditionalIncome; however, theamountvariesfromlead tolead EnabletostartabusinesswithLowCostandLessRisk OffersFlexibleWorkingHours NoneedforHigherEducation RespectivebankorNBFCprovidesSkillTraining

  6. Benefits to Customers from NBFC DSA The benefits to Customers from NBFC DSA are as follows: ConcernsandIssuesgetsresolvedeasilyandquicklybytheagent Getstochoosefromavarietyofloanoptions DSAsareavailabletoprovideAfter-salesAssistance SWARIT ADVIS ORS | 2020

  7. Benefits to Financial Institutions FROM DSA ProvidesEaseinLocalApproach ADirectSellingAgentshortliststhePotentialCustomers IncreasesAwarenessabouttheFinancialProductsofferedby InstitutionstotheCommonPeople DSAsefficientlyaddressLoanSeekers DSAsperformPreliminaryVerification, andRegisterneedsofthe clients SWARIT ADVISORS | 2020

  8. Duties of Nbfc DSA ProvidesEaseinLocalApproach ADirectSellingAgentshortliststhePotentialCustomers IncreasesAwarenessabouttheFinancialProductsofferedby InstitutionstotheCommonPeople DSAsefficientlyaddressLoanSeekers DSAsperformPreliminaryVerification, andRegisterneedsofthe clients

  9. Documents Required for Aadhar Card PAN (Permanent Account Number) Card Details Bank Account Details Driving License NBFC DSA Registration SWARIT ADVISORS | 2020

  10. Application Process VisitandSubmittheapplicationtotherespective NBFC, Bank, oranyotherLendingPlatform; Maketherequiredpayment; Afterfurnishingthepayment, theapplicantwillbe contactedbytheconcernedNBFC, Bank, orLending Platform; Furnishthedocumentsaskedbytherespective Institution; Now, thedocumentssubmittedwillbeverified; Ateamoflegalprofessionalswillconductaprocessof DueDiligence, andwillchecktheCreditHistoryand CIBILScoreoftheapplicant; Iftheauthoritiesaresatisfiedwiththeformand documentssubmitted, adulystampedAgreementof DSARegistrationwillbesenttotheapplicant;

  11. Now, fillinallthenecessarydetailsasked; SigntheAgreementofDSARegistration; SubmittheAgreement; TheauthoritieswillnowissueaDSACode, whichwillbeusedtotrackthestatusoftheapplication; AfterreceivingtheDSA, aDirectSellingAgentcanstartuploadingtheloandocuments;

  12. Conclusion A  Direct Selling Agent or DSA acts as a bridge between the potential borrowers and lenders. Their main work is to collect leads and refer the same to the lending institutions.Further, these people are paid on the basis of the efforts put in by them. That means they are paid out some percentage of the actual loan amount.Furthermore, the services provided by these agents to banks or NBFCs are taxable under RCM (Reverse Charge Mechanism). For more details visit Swarit Advisors.

  13. Talk to Us Mailing Address Block H Plot No. 55, Ground Floor, Sector 63 , Noida, UP Email Address ho@swaritadvisors.com Phone number +91-9821399320 , +91-9999519508 Source - https://swaritadvisors.com/learning/nbfc-dsa-registration/ Source - https://swaritadvisors.com/learning/nbfc-dsa-registration/

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