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How to get NBFC license in India

NBFC(Non Banking Financial Company) are fast emerging segment of Indian economy.In NBFC easily raise fund from the public directly or indirectly. <br>

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How to get NBFC license in India

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  1. How to Get NBFC License in India An NBFC is a company registered under the companies act that is engaged in the business of loans and advances, receiving Loans and advances, receiving deposits (some NBFC only), acquisition of stocks or shares, leasing, hire- purchase, insurance business, chit business. The reserve bank of India regulates and supervises NBFC Registration in India. The criteria for obtaining NBFC registration are: 1. The company must be registered in India as public limited or private limited Company. 2. The company must have a minimum Net owned fund of Rs. 200 Lakhs. The Net owned Funds would be calculated based on the last audited balance sheet of the Company.

  2. 3. Hard copies of the list of documents must be furnished to the Regional officer of RBI.(List of documents provided on RBI official website). Procedure 1. Applicant company has to file an online application with the RBI.(rbi.org.in) 2. After the submission, the applicant will get a reference number to facilitate inquiry in future. 3. Then the company requires submitting the duplicate hard copies to the concerned regional office of RBI. 4. The regional office shall check the accuracy of all submitted documents. 5. The regional office will send the application for NBFC registration to the central office. 6. The central office of RBI grants NBFC registration only when applicant company fulfills the all prescribed things in section 45-IA. Therefore the compliances shall be done under the RBI act as well as Companies Act. The compliances to be followed are also prescribed under this act.

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