NBFC

This query is : Resolved

S.Jegadeesan (Querist)
Follow

07 January 2011 Dear Sir,
I wish to clarify some doubts regarding NBFC formation. i.e.
1.Is it possible to carry on the business of Non Banking Financial services by a Pvt Ltd?
i.e. is it allowed to accept the deposit & give the loan to the public?
2.What are the procedures should be followed while the formation of NBFC?
3.Any other permission should be obtained from the RBI?
4.When it(RBI Permission) should be got?

Regards,
S.Jegadeesan.

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

07 January 2011 1. Though a pvt. ltd. company can do NBFC business it cannot accept deposit from public. It can raise finance from banks for the purpose of funding business if it wishes to carry out.
2. The main object should contain business of NBFC and the authorised capital of the company should atleast be Rs. 2 cr and also the networth of the company should be atleast Rs. 2 cr.
3. Permission to do NBFC business should be taken before commencement of business.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

madhu sudan

Jaya Ladhwani

Rampal Saini

Vidit Ratanghayra

K.S. ANANTHARAJAN

Subscribe Now

NBFC

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA