NBFC Registration company in Mumbai
What is a NBFC and do they accept deposits?
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property. A non-banking institution which is a company and has principal business of receiving deposits under any scheme of arrangement in one lump sum or in instalments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company). NBFC Registration company in Mumbai
Yes NBFC accept deposits.
Yes NBFC accept deposits.
Types of NBFC’s
- NBFCs can be categorized into the following:
- Asset Finance Company
- Investment Company
- Loan Company
- Infrastructure Finance Company
- Core Investment Company
- Micro Finance Company
- Mortgage Guarantee Company
- Housing Finance Company
By deposits they hold, NBFCs can be further classified into two categories:
- Deposit accepting NBFCs
- Non-Deposit accepting NBFCs
By size or minimum capital requirement, NBFCs can be further classified into following two categories:
- Systematically Important NBFCs
- Non Deposit Holding NBFCs
How do I start a NBFC in India?
PROCEDURE FOR INCORPORATION OF NBFC:
1) Incorporation under Companies Act,2013.
2) Obtaining of Certificate of Incorporation
3) Opening of Bank Account
4) Having minimum net owned funds of Rs.2 crores.
5) Application with RBI for registration
6) License will be granted by RBI after inspection of application.
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