Non banking financial corporation (NBFC) has grown into another big hope for common people when it comes to receiving some financial assistance. Therefore, NBFC registration plays a crucial role in these days, as there are large numbers of poor people are making a beeline for some kinds of monetary assistance. Non banking financial company is a financial organization registered under the Indian Companies Act 1956 like any other company. As NBFC is different from a private and public limited company, it needs some rules and regulations in order to complete the whole process. And, all those organizations are wishing to work as a non banking financial company needs to register under the section of 451 (a) of the Reserve Bank of India Act 1934. There are large numbers of business entrepreneurs are taking the plunge of Non banking financial company in order to serve the whole society by offering loans and advances when the public need most.
NBFC Procedure Guidelines
Like all other companies, non banking financial company (NBFC) also needs to go through company rules and regulations as per the Government. Reserve Bank of India is the sole authority which administers and allows the registration certificate to all aspiring Non- banking financial company (NBFC) after checking all the details. There are lots of trademarks and legal agencies are also providing NBFC registration services at affordable prices in India. Non banking financial company is the one which specializes in providing advance and loans to people those are unable to get financial assistance from leading banks in the country. The NBFC registration rules and regulations and procedures are well defined and managed by the Reserve Bank of India under the act of 1934. As per the RBI Act, an NBFC aspirant has minimum 2 crores of paid up capital and its financial assets must exceed 50% of its total assets in order to get a NBFC registration certificate.