Are you looking to start a Non-Banking Financial Company (NBFC) in India? If yes, then obtaining an NBFC license from the Reserve Bank of India (RBI) is the first and foremost requirement. This article will guide you through the process of obtaining an NBFC license in India, step-by-step. Table of Contents
Introduction to NBFCs NBFCs are financial institutions that provide banking services without holding a banking license. These institutions are involved in various activities like loans, investments, leasing, hire purchase, and more. NBFCs have become popular in India in recent years, and the number of NBFCs has increased significantly. Eligibility criteria for NBFCs
Types of NBFCs in India
Pre-requisites for applying for an NBFC license Before applying for an NBFC license, certain pre-requisites need to be fulfilled. The following are the pre-requisites:
The application process for an NBFC license
RBI scrutiny of the application After receiving the application, the RBI scrutinizes the application and checks for the following:
Post-application process for an NBFC license After the scrutiny of the application, the RBI may ask for additional documents or clarification on the application. Once the RBI is satisfied with the application, it grants the NBFC license. Conclusion Starting an NBFC in India requires a lot of planning and preparation. The process of obtaining an NBFC license can be time-consuming, and there are many legal requirements to be met. However, if you fulfill the eligibility criteria and follow the application process correctly, you can obtain an NBFC license from the RBI.
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