NBFC Registration in Delhi

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NBFC Registration in Delhi

Large no NBFC has been registered in Delhi NCR. After Registration of Company with MCA, next process is to apply to RBI for Cor.

  • Company registration with ROC Delhi
  • Business plan
  • End to end follow-up with RBI
  • RBI License for NBFC operations

How to proceed for NBFC Registration in Delhi?

NBFC is a company registered under Companies Act which is engaged in the business of receiving loans and advances, acquisition of stocks or shares, leasing, hire-purchase, insurance business, chit business. In India, NBFC registration is regulated by Reserve Bank of India. There is a requirement of minimum net owned fund of Rs.2 Crore. NBFCs registration in Delhi / India / NBFC operations is regulated on the basis of the directions issued by the Reserve bank of India under Reserve Bank of India Act, 1934. NBFC can commence its operations only after obtaining “Certificate of Registration” from the RBI.

Here are the following criterion defined for NBFC registration in Delhi:

  • A company must be registered in India whether as a public limited company or private limited company.
  • A company must have a minimum net owned fund of Rs.2 Crores. Provided that, net owned funds should be calculated according to the last audited balance sheet of the company.
  • There is a requirement of furnishing hard copies of the list of documents to the regional office of the RBI.

Types of NBFC Registration in Delhi?

  • Asset Finance Company (AFC)

Asset Finance Company is a company which involves in financing physical assets such as automobiles, material handling equipment and industrial machines supporting economic activity.

  • Investment Company

It is a type of financial institution whose principal business is related to the acquisition of securities.

  • Loan Company

It is a type of institution which provides finance in the form of loans or advances. They obtain funds by taking deposits from the public and give loans to small-scale traders.

  • Infrastructure Finance Company

It is a type of NBFC with Net Owned Fund of Rs.300 Crore, Credit rating ‘An’ or equivalent credit rating, CRAR of 15% and 75% in infrastructure loans.

  • Mutual Benefit Finance company

They provide loans to their members and their main sources of funds are share capital, member deposits & public deposits.

  • Chit Fund Company

They collect deposits from members on a periodic basis and distribute these funds among them as prizes. Members who enter into an agreement with chit Company subscribe for a definite period. They are governed by states.

Procedure for NBFC Registration in Delhi

  • Acquire DSC and Din for directors
  • Filename approval application
  • Affidavit from directors to fulfill RBI compliance
  • Draft MOA & AOA
  • File incorporation forms with necessary documents
  • Obtain certificate of registration from Registrar of Companies
  • Deposit Net Owned Funds in bank account opened for company
  • Apply for registration with RBI under RBI ACT, 1934.
  • Applicant Company has to file an online application with the RBI on its official website.
  • After this, an applicant will get a reference number to facilitate inquiry in the future.
  • After this, it is required to submit the duplicate hard copies to the concerned regional office of RBI.
  • The regional office shall check the accuracy of all submitted documents.
  • The regional office will send the application for NBFC registration to the central office.
  • The central office of RBI grants NBFC registration only when applicant company fulfills prescribed requirements under section 45-IA.