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Starting a nbfc

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(Querist)
05 April 2012 Dear Sir,

I wnat to start a finance company (NBFC). I have my own funds of Rs 3 crores. Please can u brief me the procedure for the same.
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
05 April 2012 First decide, which kind of NBFC u want to start with i.e. deposit taking or non deposit taking.
Then apply in particular form along with required documents to ur jurisdiction RBI.
They will call for and ask for information which u need to submit.
Then they will given u registration as a NBFC.
Refer RBI Act, 1934 for details.
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