What Are Various Steps For Registering an NBFC in India

Non-banking financial companies (NBFCs) play a important part of the Indian financial echo system. NBFC’s playing a key role in meeting the credit demands unmet by the traditional banks, specifically focusing on peer to peer lending. It is a Company registered under the Companies Act (other than commercial and co-operative banks), engaged in the business(es) of providing credit facilities like accepting deposits, loans & advances, leasing, hire purchase, facilitating securities trade and money market trade, retirement planning, facilitating securities trade and money market trade, underwriting facilities,  merger activities, etc. Progressively, NBFC’s are gaining increasing recognition due to their customer-oriented services; abridged procedures; flexible products, better rates of return on deposits; flexibility and timeliness in meeting the credit needs of the seekers of credit; etc.