NBFC Registration
NBFC stands for Non-Banking financial companies. These companies, registered under the Companies Act, 2013 are responsible for loan, advances, share acquisition, debentures, stocks and security transactions. In other words, an NBFC company can be defined as an institution that offers services similar to those offered by a bank, yet it does not own a banking license. To establish such a company, it should acquire NBFC registration. At Vsure Consulting, we offer extremely convenient and smooth NBFC registration services.
Requirements And Eligibility:
As the benefits and advantages of NBFC businesses became more evident, the number of people seeking NBFC registration is increasing every day. However, not everyone can get this registration. Some prerequisites need to be met. Fulfill the following requirements if you wish to obtain NBFC registration:
• The company must be registered in RBI.
• The member should have at least Rs. 2 crores as its balance.
Procedure:
If your company meets the requirements as mentioned earlier, we can help you begin the NBFC registration procedure. The first step is to fill an application form that is to be submitted. Some documents are also to be submitted along with the application form. The list of documents required are as follows:
• Copy of PAN CARD
• ID Proof Address Proof
• Passport Size photo
After a go-ahead from the RBI, a certificate known as the “Certificate of Registration” is issued in the name of the company. This completes a significant proportion of the registration process. All that is left to do now is to wait for the NBFC to accept public deposit and ensure that your company abides by all the rules and regulations and terms and conditions as prescribed by the Non-Banking Financial Companies Acceptance of Public Deposits Directions, 1998 Act.
The application form is available online and can be filled there. However, the submission of the application form is required in hard copy and needs to be dropped at the office of the Regional Bank of India. Another thing that is to be kept in mind is that the original documents are not to be submitted, they need to be photocopied, and the copies are required to be attached with the application form.
Features:
There are some characteristics that an NBFC company must have. Failure to ensure these features may lead to the cancellation of your registration in case of severe disobedience. Some of these salient features are:
• NBFC does not offer insurance for the deposits made.
• NBFCs are forbidden to provide any incentive, advantage or gifts to the depositors.
• The NBFCs can only accept or renew public deposits during the minimum period of 12 months and for a maximum period of 60 months.
• The interest rates offered by them cannot exceed the ones provided by RBI. The interest rates keep fluctuating, so the company has to be well informed in this matter.
There are many different types of the NBFC registrations, and at Vsure Consulting, we help our clients acquire the registration they desire in the most hassle free and convenient manner.
Contact us now so that we can get the process started for your registration.
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