NBFC Company Registration in India

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NBFC stands for Non-Banking Financial Company, a vital component of the financial sector that provides a range of financial services without holding a banking license. To operate legally, an NBFC must undergo a thorough registration process. • The NBFC company registration involves several steps and compliance requirements. The first step is to form a company under the Companies Act, either as a private or public limited entity. The minimum capital requirement and other conditions vary based on the type of NBFC, such as asset finance, investment, microfinance, etc. • Next, the applicant must ensure that it meets the eligibility criteria prescribed by the Reserve Bank of India (RBI). These include a minimum net owned fund, track record of profitability, and fulfilling the 'fit and proper' criteria for directors. • Once the eligibility is established, the applicant must submit a detailed application to the RBI, which includes information about the proposed business activities, financial projections, sources of funds, and future plans. • The RBI meticulously examines the application, and if found satisfactory, it grants a Certificate of Registration (CoR). This CoR is essential for commencing NBFC operations. If the RBI requires any additional information or documents, the applicant must provide them promptly to ensure a smooth registration process. • #NBFC, #Registration, #Company, #Corporate, #buiness, # Finance company • https://www.legalbabu.com/nbfc-compan...

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