NBFC compliance Meaning
A Non-Banking Financial Company (NBFC) is a company incorporated under the Companies Act 1956 of the Companies Act 2013. NBFCs are businesses that specialise in lending and other financial services. They are defined under Section 45-IA of the RBI Act of 1934. To undertake financial transactions, such companies must obtain a Certificate of Registration (COR) from the RBI. This method is also known as NBFC registration or the application for an RBI NBFC licence. To launch such a firm, another alternative is to go through the NBFC Takeover method.
This is a tough process that involves multiple steps and demands the utmost expertise and hard work. At MUDS, we have 150+ expertise in RBI registrations and NBFC acquisition operations, nbfc compliance, including CAs, CSs, CMAs, and Lawyers.
NBFC Registration Process
- To get your NBFC up and running, complete the procedures listed below:
- Employ a seasoned NBFC registration consultant with at least ten years of expertise, as well as a team of seasoned experts that includes CAs, CSs, attorneys, and senior bankers.
- The suggested corporate name must include the words Finance, FinServ, Final, Investment, Capital, Fintech, and Leasing.
- Make a limited liability company or a public corporation.
- Make a list of your registered office's address, city, and operations area.
- Obtain a Certificate of Incorporation from the Registrar of Companies.
- Into the company's bank account, deposit net owned funds. Documents necessary for the issuance of an NBFC licence.
- Creating a business plan for the next five years that includes: