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3. Articles
NBFC (NON-BANKING FINANCIAL COMPANY) – REGISTRATION & CLASSIFICATION
* Sangam kumar
* | Fema / RBI - Articles
|
* Download PDF
* 08 Apr 2023
* 1,227 Views
* 4 comments
♦ Definition of NBFC
As per RBI (10 January 2017),
* Is a company registered under companies act 1956 or 2013
* Engaged in business loans and advances , acquisition of shares/debenture
/bonds issued by government or local authority
* But does not include any business principal is that in agricultural activity
or industrial activity or purchase of goods (other than securities )
Now what principal business means ?
Principal business means when a company’s financial assets constitute more than
50% of total assets and income from that assets constitute more than 50% of
gross income .
The RBI has defined it so as to ensure predominantly engaged in the financial
activity so to regulate and supervised by it
REGISTRATION
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As Per sec 45 IA of RBI act 1934 , no NBFC can commence or carry business
without :
1. Obtaining a certificate of registration from RBI
2. Having net owned fund ( NOF ) of 200 lakh
Therefore NBFC has to adjust from these two principals then only an NBFC can be
registered
Classification of NBFC
As per sec 45IA of RBI act 1934 NBFC can be classified on following
categories:
a) Housing finance institution .
b) Merchant banking company ( Reg by SEBI)
c) Stock exchange (Reg by SEBI)
d) Stock broker/ sub broker ( Reg by SEBI)
e) Nidhi company( Reg by MCA)
f) Insurance company
g) Chit fund ( Reg by chit fund act 1982)
h) Mutual benefit company
i) Alternative investment fund ( AIF) CO
MINIMUM NET OWNED FUND
Net owned fund for new company applying for grant of COR to commence business is
stipulated 2 crore
So, there two funds i.e.,
(A) Owned fund : means aggregate of paid up share capital and preference share
capital which also includes free reserve , balance of share premium
(B) Net owned fund : owned fund – investment in subsidiary in same group / other
NBFC – book value of debenture , bonds or outstanding loans and advances
including hire purchase ( maximum to extent of 10% of owned fund)
Tags: NBFC
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AUTHOR BIO
Name: Sangam kumar
Qualification: Student - CA/CS/CMA
Company: PR MEHRA &; CO
Location: GHAZIABAD, Uttar Pradesh, India
Member Since: 08 Apr 2023 | Total Posts: 2
I am ca finalist and working in PR mehra and co since previous 2 months View
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4 COMMENTS
1. Ayush Kumar says:
bahut bdia
Reply
April 9, 2023 at 9:21 am
1. Sangam kumar says:
Thanku bhaiya ji
Reply
April 9, 2023 at 9:57 pm
2. Saurabh Kumar Karn says:
👍👍
Reply
April 8, 2023 at 10:10 am
1. Sangam kumar says:
Thanku brother
Reply
April 9, 2023 at 12:25 am
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