NBFC License in India.
What is an NBFC?
Non-Banking Finance Company, is a private or public limited company that has been incorporated under the Companies Act, 2013, and has received a Certificate of Registration (COR) from the Reserve Bank of India. The NBFC’s main business is providing loans and advances, as well as the acquisition of shares, stocks, and other investible securities. Personal Loans, Asset Financing, SME Lending, Gold Loans, Loan against Property, Loan against Shares, Short Term Personal Loans, and other types of loans are among the types of loans that NBFCs can provide.
Types of NBFC in India
Advantages of NBFC?
- Provide loans and credit facilities
- Trade in money market instruments
- Wealth management such as managing portfolios of stocks and shares
- Underwrite stock and shares and other obligations
- NBFCs are the last resorts of borrowing; NBFCs are there where banks are not there
- NBFCs are the largest propellants of ushering finance into the country
- Agility is very important for NBFCs as it sets the banks apart. Banks function slower as compared to the NBFCs
- The use of modern methods by NBFCs has overcome key challenges that had overwhelmed conventional lending. NBFCS have made great use of technological advancements like the use of mobile phones and the internet which has helped in making information easily accessible anytime anywhere. It has reduced the demand and reliance on bank branches
- Technology is not only at the head of banking and financial services, but also an increasingly digitized India has underpinned the rise of NBFCs. Digitalization has given NBFCs the ability to present multiple choices and reach the larger audience at quicker pace. This indirectly gives rise to larger NBFCs
- Combination of partnership and database helps in increasing penetration of financial inclusion. To reach large numbers of customers successfully, and minimize risks, NBFCs have forged partnerships including the government to use their database and identify customer worthiness. Thus lending has been productive
How long does it take?
Review of documents provided + Application for Digital Signature Certificate
Name reservation application under SPICe+
- Drafting of MoA, AoA and other required documents + Filing company registration application + DIN allotment application + Application for PAN and TAN of company
Government processing time
How does it works?
- Our expert will understand your requirements
- They will provide basic details and documents list required for registration
Make the Payment
- You make the initial fee payment through secure payment gateway towards stamp duty and out of pocket expenses.
Application for company registration
- Application for company name registration under SPICe+
- Procurement of Digital Signature Certificate (DSC)
- Documents drafting including MOA and AOA
- Application for Company registration
- Application PAN and TAN