NBFC Registration

A Non-banking Financial Company has become a vital part of our economy nowadays. Through peer to peer lending, this form of business entity facilitates loans to individuals whose demands were previously unmet by conventional financial institutions. Registered under the company’s act, this business entity provides banking facilities like the following:

  1. Loan facilities
  2. Advances
  3. Accepting deposits
  4. Leasing
  5. Hire purchase
  6. Retirement planning
  7. Securities trade
  8. Money market trade
  9. Merger activities
  10. Underwriting facilities

The way for them to raise funds is either publicly using directly or indirectly from public or from cooperative or commercial banks. These institutes provide the mentioned services to small scale business, micro scale businesses and individuals as well. Because of the NBFCs accentuation towards providing the most flexible services, the most shortened procedures, increased rates of deposits. This has made the NBFC one of the premier financial institutes in India.

Difference between NBFC and a bank

  1. Demand deposits are not accepted in NBFC
  2. NBFC are not the part of payment and settlement system.
  3. NBFC cannot issue cheque that they draw themselves.
  4. Deposit insurance facility is not available for the depositors for NBFC.

Now that you know how different an NBFC is from bank, are you ready to start your own?

Registrationwala provides the registration services if you want to start your own Non Banking Financial Company. We are efficient and we are going to make sure that your company starts up as soon as possible.