Non-banking Financial Company (NBFC) are those companies which are registered under the companies act and is engaged in business of loans and advances acquisition of shares / bonds / debentures and which are issued by the government or any other local authority under the government. It also includes such kind of companies which are dealing in hire, purchase, insurance business, chit business. The registration of NBFC is very important for the regulation of capital and money market and also to protect the interest of the depositors. All the companies whose financial assets exceed 50% of the total assets and income, then it is necessary for that company to go for RBI registration.
NBFC Registration Procedure
To get registered as Non-banking financial company then, company have to make an application to the Reserve Bank of India for the grant of NBFC certificate, along with the application there is need to attach the necessary documents. All the documents which are to be submitted along with the application are to be filed in duplicate. Ozg Registration Consultants are the leading service providers in NBFC Registration and other related issues, Ozg team will provide you all useful information relating to the NBFC.
Non-banking Financial Institution plays a great role in the developing economies like India where the population is very high as compare to available banking facilities. Non-banking financial institution gives satisfactory result at the time when the credit availability is lesser in the market.
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