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NBFC, or Non-Banking Finance Company, is a financial institution that is controlled by the Reserve Bank of India under section 45-1(c) of the Reserve Bank of India Act, 1934, and provides banking services such as loans and advances, stock acquisition, equities, debt, and more to individuals and businesses. NBFC does not come within the Banks‘legal definition so does not need to hold a banking license.
Documents required for NBFC Registration Process
• Incorporation Certificate of the Company.
• Certified copies of Memorandum of Association (MOA) and Articles of Association (AOA) of the Company.
• A copy of PAN/Corporate Identity Number of the company.
• Documents related to address of the company and the location.
• List of directors profile signed by each director.
• Credit reports of company.
• A board resolution on fair practices code is to be passed and certified copy of the same should be submitted.
• Certificate by statutory auditor specifying that the company does not hold the public deposit and doesn’t accept it as well.
• Information about the bank account, balances, loans etc.
• If applicable, audited balanced sheet and profit and loss statement with the directors and auditor’s report of the preceding three years.
• Self certified copy of bank statement and IT return is required.
• Information about the company’s future plan, (for three years), with the projection of balance sheets, cash flow statement and income statement.Click here to know more – NBFC Registration
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