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Client Centric
Approach
Registration of any type of NBFC and related compliances requires correct understanding of the specific regulations. The regulations being quite complex and more of experience driven rather than language driven in nature, requires involvement of professionals having prior experience and expertise in the same.
‘Corporate Professionals’ with its dedicated team comprising of industry experts, offers end-to-end assistance with respect to setting-up of NBFCs. We help you in planning and structuring your NBFC in the right manner, which will enable in getting the RBI approval. Our services include preparation of business plan, submission of application, representing your case before RBI etc.
Identifying type and category of NBFC
Registering Company
Complying with minimum prudential norms and board constitution
Preparing application and relevant annexures
Filing application with RBI
Response to queries and observations raised,if any
Interview with Company Officials
Receipt of CoR
Commencement of activities as NBFC
A company is required to be incorporated as on NBFC if it carries out financial activity as its principal business ie. its financial assets constitute more than 50% of the total assets and income from such financial assets constitute more than 50% of the gross income. A company which fulfills both the criteria is classified as a NonBanking Financial Company (NBFC) and requires registration under RBI to carry out its operations.
Following are the various types of NBFCs:
RBI had put in place a revised regulatory framework called the Scale Based Regulations (SBR) for governing NBFCs based on their risk perception in addition to existing criteria. The revised regulatory structure categorises NBFCs under the following layers:
NBFCs can undertake various kinds of activities including merchant banking, stock broking, insurance etc. However, not all activities are under the purview of RBI as few entities are regulated by Securities & Exchange Board of India (SEBI), Insurance Regulatory Development Authority of India (IRDAI) and others specific regulators and thus do not require registration with RBI.
