• RBI Process of NBFC Formation
• Liasioning with RBI authorities
• Handling all RBI queries
• Includes Government & Professional Fees

NBFC or Non-Bank Finance Company is that type of financial institution that provides various financial and non-financial services to individuals, commercial companies, entrepreneurs, etc. They are different from Cooperative and Commercial Banks, they do not need to have a licensed bank but must strictly follow the rules and regulations provided by RBI from time to time.

NBFCs most commonly operate in the field of industrial and commercial loans and advances, deposits, leases, rental purchases, investment funds, investment fund businesses, insurance businesses, capital and money market instruments, such as stocks, bonds, bonds, and many other similar activities.

India’s financial sector has shown steady growth over the past two decades. The NBFC part of this sector has changed tremendously in recent years. And NBFCs have been at the forefront of driving new credit disbursements to the country’s underserved and underserved MSMEs.

The NBFC license must be taken from RBI u / s 45-IA of the RBI Act of 1934. The financial institution that wishes to register as NBFC must, first, be duly registered under the Companies Act of 2013 or the previous Act of 1956.

RBI strictly regulates and ensures that NBFCs comply with the provisions and regulations provided in Chapter III B of the RBI Act. The main business of NBFCs is to raise capital from depositors and public investors and lend it to borrowers.

NBFCs are the bridges that link investors or depositors with borrowers. They have become a better alternative for the banking and financial sector by providing financial solutions to the unbanked and unorganized segments of society.

Registration: The financial institution must be established as a company in accordance with Section 3 of the Companies Law of 2013 or the previous Companies Law of 1956.
Director Requirements: At least 1/3 of the Directors must have a minimum experience of 10 years in finance. And he / she must be employed as a full time Director.
Unique business plan: A business plan must be detailed and ready for operations for the next 5 years.
Net Owned Fund (NOF): The company must have at least Rs. 2 Crore as your NOF. It must include only paid-up share capital. Preferred capital stock should not be included. The share and reserve premium will be included, if applicable. But it shouldn’t be a borrowed fund. However, spouse gifts can be included in the NOF. The minimum NOF requirement differs for specialized NBFCs (NBFC-MFI, NBFC Factors, and CIC).
Lean credit history: the CIBIL score of the company, its directors and its members must be good. They must have no amortization or intentionally fail to repay loans to NBFC / Bank.
FDI Compliance: If any foreign investment is anticipated, the company must comply with the FEMA Law.

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