NBfc Company Registration - Enterslice

1. How to Register NBFC in India? Step 1: Formation of a company: the first step is the formation of a company under Companies Act, 2013.The name of the business must reflect the character of the NBFC.For example, investment, finance, etc. may be used. Step 2: after the incorporation, Net owned fund the paid up share capital should suitably arise either at par or premium so as to attain a minimum net owned fund of Rs. 2 crores. The capital to be raised should be equity share capital and not preference share capital. Step 3: the opening of a bank account: the entire sum of Rs. 2 Crore should be kept in a bank account in a deposit account free from all liens. Normally funds are maintained in fixed deposit. The RBI at the time of considering the application verifies the deposit held by the company with the bankers.

2. Step 4: Application for Certificate of Registration to RBI along with required documents.(the complete list of documents are provided in official site that is www.rbi.org.in). Once the application is filled the company shall get an application reference number for the COR application loaded online. After that the company submits the hard copy of the application form in duplicate, along with supporting documents to the concerned regional office. The bank would issue the certificate of registration after satisfying itself that the conditions are enumerated in section 45-IA of the RBI Act, 1934 are satisfied.