NBFC Registration in Noida

Contact Us

Being a part of National Capital Region, the Noida region has gained a fair share of economic development. With the economic development arises the need to finance the economic activities and promote growth. The first thought that comes to mind is to approach Banks, but there are many who cannot approach the banks for loans or are not approved by the banks as profitable debtors. It is due to these shortcomings of the banks that the Non-Banking Financial Companies have established themselves and are operating successfully all over the country.

Similarly, the scope of NBFCs in Noida is grown multifold in the last few years and is on a rise.

What are Some Types of NBFCs?

NBFCs have been classified by Reserve bank of India as follows according to the principal business the entity carries on and what market it targets for its financial transactions:

  1. Asset Finance Company (AFC)
  2. Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI)
  3. Loan Company (LC)
  4. Investment Company (IC)
  5. Non- Banking Financial Company (Infrastructure Debt Fund)
  6. Systemically Important Core Investment Company (CIC-ND-SI)
  7. Infrastructure Finance Company (IFC)
  8. Non-Banking Financial Company – Factors (NBFC-Factors)

The requirements, information to be provided with the application form and documents to be submitted with the hard copy differ as per the type of Non-Banking Financial Company decided to be incorporated.

What are the primary steps to be followed for Registration of NBFC in Noida?

For NBFC registration in Noida, one must be aware of all the documents to be submitted and also the procedure that follows.

  1. The first step in for NBFC registration in Noida shall be to apply for the registration of a Private Limited or Public Limited Company to the ROC. The MCA provides a detailed procedure of Company Registration which has to be followed.
  2. While the next step is to apply to the Reserve bank of India for the Certificate of Registration, yet suitable time and effort has to be given in for drafting a business plan and securing the best manner of presenting the documentation to the Reserve Bank of India.
  3. After a proper application has been made to the Reserve bank of India, it is equally important to make an end to end follow up with the RBI.
  4. Finally, if the Reserve Bank of India is satisfied with the application, documentation and the team shall grant the License for NBFC operations.

What is the Criterion set forward for NBFC Registration in Noida?

The following eligibility must be met for the applying for NBFC in Noida:

  1. The applicant must be a Company registered in India, be it public limited or private limited company.
  2. The applicant company must have a minimum NOF (net owned fund) of Rs.2 Crores.

Upon fulfillment of the above two criteria, the applicant becomes eligible for making an application to the Reserve Bank of India for Certificate of Registration to operate as an NBFC.

What is the procedure of application for registration of NBFC to the Reserve Bank of India?

For making an application, one has to use the secured official portal of RBI, supply the required information online and submit a physical copy to the RO of the Reserve Bank of India. For the purpose of NBFC Registration in Noida, the Regional Office situates in Delhi.

The suitable form as per the type of NBFCs (NBFC-IDB, NBFC-Factor etc) must be filed up carefully filled up and duly uploaded.

The applicant shall then receive a Company Application Reference Number for checking the status of the application in future.

The applicant must then submit the hard copy of the application form to the concerned Regional Office.

The applicant then must remain prompt on staying updated on the status of the application with the RBI making regular follow-ups.

What documents are required for registration of NBFC in Noida?

The documents to accompany the application differ as per the type of the NBFC. A list has been provided by the RBI yet it is preferred that you reach an NBFC expert for obtaining a detailed list of documents and other requirements to be followed by the applicant company.

Though the process in whole looks simply yet one must be aware that the Reserve Bank of India has strict standards and guidelines which it utilizes to control the standards of Non-Banking Financial Company.

Interested in NBFC Registration in Noida?

Watch these videos about NBFC Registration in Noida: