An Assessment on NBFCs’ Insurance Business Participation The RBI has granted the NBFCs their authorization to broaden its footsteps for participation in the insurance sector or related businesses. NBFCs have not yet been authorised to act in an autonomous framework. The launch of NBFCs in insurance business helps insurers stabilise their capital and satisfy extra […]
NBFC Vs Micro Financing Institution: Things to Know before Setting Up Finance Company Non-Banking Financial Company or NBFC refers to a company registered under the Companies Act and regulated by the Reserve Bank of India. The main activities of an NBFC are related to small-time lending that includes giving loans and advances to manufacturers, savings […]
Everything You Need to Know about NBFC-Investment and Credit Company The Reserve Bank of India (RBI) in its bid to harmonize Non-Banking and Financial Companies (NBFCs) released a notification on 22nd February 2019 that merged three categories of NBFCs into one called “NBFC-Investment and Credit Company”. The new financial entity also termed as NBFC-ICC was […]
Influx of NBFCs- Easy Procedure, Flexibility & Low Operative Costs: Decode the Checklist! Venturing into Non-Banking Financial Companies (NBFCs) sector has become easier post demonetization. Realizing that the banks alone cannot cater to the financial demands of all Indians, the Reserve Bank of India (RBI) has simplified the norms for new entrants in this field. […]
Checklist for Incorporation of NBFC The procedure for incorporation of NBFC under Companies Act 2013 has been further made easy. The streamlining being done is as follows: Now an NBFC can be directly registered with MCA. No prior approval is required from RBI. RBI comes into picture only post the incorporation of the NBFC. Without […]
NBFC-P2P shall ensure that the providing of services to a participant, who has applied for availing of such services, is backed by appropriate agreements between the participants....