NBFC License: Unlocking Financial Services Opportunities

An NBFC (Non-Banking Financial Company) license enables a company to legally operate as a financial services provider, offering loans, asset financing, wealth management, and more, without holding a full banking license. To obtain an NBFC license in India, companies must follow these steps: Register as a Company: Incorporate as a Pvt Ltd or Public Ltd company under the Companies Act, 2013. Capital Requirement: Maintain a minimum net owned fund of ?2 crores. Submit Application: File online and physical applications with RBI along with essential documents, including business plan, financial projections, and directors’ profiles. Due Diligence by RBI: The Reserve Bank of India rigorously reviews the application for compliance with regulatory requirements. Approval and Licensing: If compliant, RBI grants the license, allowing the NBFC to operate legally. This license is essential for companies aiming to broaden financial access and contribute to economic growth through innovative financial solutions.

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