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NBFC is an acronym used for Non-Banking Financial Company incorporated under the Companies Act, 2013 and managed by RBI. The functions of an NBFC are mostly similar to that of Banks. They are involved in the businesses of Loans and Advances, Acquisition of stocks, shares, hire purchase insurance business, or chit-fund business. NBFCs are well known to provide quick loans to individuals and the corporate in contrast to the traditional banks. NBFCs are filling up the gap left by the banks in the financial market as Banks alone cannot serve the requirement of all. Moreover, the process of NBFC Registration is a lot easier as compared to the Banks. In this blog, we shall discuss in detail the process of incorporation of NBFC in India.
For incorporation of NBFC in India following conditions must be fulfilled:
Given below is the detailed list of documents required for incorporation of NBFC:
Given below is the classification of the fees structure of NBFC registration:
NBFCs are playing a vital role in the financial sector by filling up the void left in the sector by the traditional banking system. These Non-Banking Financial Companies are entirely changing the experience of Banking by using modern-day technologies. The extensive use of technology has made the overall experience of NBFCs quite hassle-free for its customers. The various benefits offered by NBFCs such as flexible tenure and interest rates, use of financial technology, etc. are allowing them to build a strong customer base. Also, for corporate seeking NBFC registration, the overall incorporation of NBFC gets very simple with proper guidance. If you wish to incorporate an NBFC, our team of experts at Enterslice will guide you to the overall process of NBFC incorporation. Further, if you have any queries related to NBFC incorporation or any other NBFC related topic, please contact us.
Also read: What are the Regulatory Requirements of Non-Banking Financial Company in India?
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