Non BAnking Finance Co.

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Rajesh (Querist)
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18 December 2010 What is the minimum authorised or paid capital for a non banking finance Pvt. Ltd. How much amount i have to expend to take the permission from RBI. How much time normally takes to get permission from RBI. Any special formality which i should do to get registre a NBFC.

Ajay Mishra

Ajay Mishra (Expert)
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18 December 2010 Hi

NON BANKING FINANCIAL COMPANIES

Companies, which are not banking companies but are engaged in the business activities, related to loan, finance, investment, leasing, hire purchase and other fund-based activities, are termed s Non-Banking Financial Companies. The basic criteria of a company to be considered as NBFC, are:

1. Deployment of funds, and
2. Recognition of Income
There are certain criteria for NBFC Companies viz. Compulsory registration with RBI for commencement/continuance of NBFC activities, Minimum Net Owned Fund, requirement of compulsory rating and RBI compliance before acceptance of deposits etc.

Minimum Authorized Capital **(and not paid-up capital)* for a NBFC should
be Rs. 2 Crores and
it cannot commence its business without obtaining the certificate from RBI
and its minimum net owned funds should be Rs. 2 Crores.

Regards

Ajay Mishra

Ajay Mishra (Expert)
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18 December 2010 Hi

For detailed checklist of RBI compliance for NBFC, give e-mail ID

Regards

Rajesh

Rajesh (Querist)
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18 December 2010 jagveer_singh21@yahoo.co.in

Ajay Mishra

Ajay Mishra (Expert)
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18 December 2010 Hi Rajesh,

Hope you got the same.

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