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.
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:
Types of NBFC Registration in Delhi?
Asset Finance Company is a company which involves in financing physical assets such as automobiles, material handling equipment and industrial machines supporting economic activity.
It is a type of financial institution whose principal business is related to the acquisition of securities.
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.
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.
They provide loans to their members and their main sources of funds are share capital, member deposits & public deposits.
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
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