Non-Banking Financial Company (NBFC) is a company registered under the Companies Act of 2013, which is engaged in the business of providing loans and advances,
acquiring shares/stocks/bonds/debentures/securities issued by the government or a local authority, or other marketable securities of a similar nature, leasing,
hire-purchase, insurance business, and chit business.
However, NBFCs do not include institutions whose primary business is agriculture, industrial activity, the purchase or sale of goods (other than securities), the provision of services, or the sale/purchase/construction of immovable property.
Furthermore, a Non-Banking Financial Company is a company whose primary business is to obtain deposits under any scheme of arrangement in a lump sum or instalments through contributions or in any other way (like Residuary Non-Banking Company). As a result, any non-banking institution that wishes to engage in such activities should apply for NBFC Registration.
Role and Functions of an NBFC
Documents required for NBFC Registration
Advantages of NBFC Registration in India
In India, the advantages of an NBFC Registration are:
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