Application for registration is to be filed with the Regional office of the RBI. With more than 17000 NBFCs already registered, the RBI is certainly not very eager to allow more companies to come into existence. Though, if all formalities are complete and pre-conditions are satisfied, there is no reason for the RBI not to permit registration, nevertheless, the officers go quite slow. The process may take anywhere between 2 to 6 months’ time. Rejection on not-very-sound grounds are common.
What exactly does the RBI see in NBFC application?
Registration for non-depository companies, that is, companies that will not take deposits from the public, should be relatively easier. The details of the applicant and the applicant’s board of directors are given as required in the form. The RBI needs to satisfy itself that the persons in charge of the NBFC are fit and proper persons.
Ozg NBFC Consultant
Ozg Center, New Delhi & Mumbai
Phone # 09811415831-37-61-72-84-92-94