NBFC Registration

Non banking financial companies are financial institutions that provide banking services without meeting the legal definition of bank. Though the criteria of RBI to identify a company as NBFC, its financial assets are more than 50 percent of its total assets. Both these test are required to be satisfied as the determinant factor for principal business of company. The registration of NBFC is important, RBI started regulating the activities of NBFC with the twin objective of ensuring that they sub serve the financial system and do not jeopardize the interest of depositors. IF a person want to register its company as a non banking financial company with RBI, one application is to be made to the RBI and along with various documents/instructions are to be submitted in duplicate like:-

Minimum NOF requirement of Rs 2 Crore.
Application is to be submitted in two separate sets tied up Properly in two files.
Annex 2 to be submitted duly signed by the director/Authorized signatory and certified by statutory auditors.

Some more documents are also needed along with all these above mentioned documents, If RBI deems fit that the applicant is satisfying all condition for its fulfillment, then RBI will issue unique NBFC registration number. NBFC registration number is having a great value from the legal point of view. NBFC number is also very important for RBI in regard to manage, and regulate thereon banking financial institutions. If you want to register your company as NBFC then365 companies will help you in doing this.

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