{"id":1064,"date":"2017-05-24T16:36:25","date_gmt":"2017-05-24T16:36:25","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=1064"},"modified":"2020-10-12T18:47:08","modified_gmt":"2020-10-12T13:17:08","slug":"documents-required-nbfc-registration-india","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/documents-required-nbfc-registration-india\/","title":{"rendered":"Documents Required for NBFC Registration in India"},"content":{"rendered":"

In this article we shall discuss the documents required for NBFC<\/a> registration, but before that let’s understand the significance of NBFCs.<\/p>\n\n\n\n

Significance of NBFCs<\/h2>\n\n\n\n

Non-Banking Financial Companies (NBFCs) are emerging as a promising sector engaged in providing loans and advances to primarily retail customers and remote areas which are outside the purview of other banks. The growing needs of finance are further enlarging the scope of NBFC license in India.<\/p>\n\n\n\n

 Customers qualified to obtain finance, but are unable to do so because of the lack of good credit score, specifically benefit from the NBFC’s mechanism.<\/p>\n\n\n\n

This introduces healthy competition between the two major finance players, ultimately supporting the government’s agenda of full financial inclusion.<\/p>\n\n\n\n

The Reserve Bank of India (RBI) consistently stresses the importance of micro, small, and medium enterprises (MSMEs<\/a>) <\/strong>in fueling economic growth. Despite contributing significantly to India’s growth, a large majority of MSMEs are excluded from the formal financial sector. In such a scenario, NBFCs are focusing their efforts on targeting this lucrative yet underserved segment.<\/p>\n\n\n\n

Pre-requisites for NBFC Registration with RBI<\/h2>\n\n\n\n

There are few major requisites for an NBFC to be registered with RBI:<\/strong><\/p>\n\n\n\n

\"Pre-requisites<\/figure><\/div>\n\n\n\n