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    Iv. Pre-Requisite For Carrying On Business of Nbfc4.1 Registration Requirements

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    Abhishek Tyagi
    To carry on business as a non-banking financial company (NBFC) in India, registration with the Reserve Bank of India is mandatory. To obtain registration, an NBFC must have a minimum net owned fund of Rs. 25 lakh, raised to Rs. 200 lakh from April 21, 1999. Registered NBFCs must continue meeting eligibility criteria to retain their registration and comply with prudential norms on identification, management statements, and information.

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    Iv. Pre-Requisite For Carrying On Business of Nbfc4.1 Registration Requirements

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    Abhishek Tyagi
    9 views1 page
    To carry on business as a non-banking financial company (NBFC) in India, registration with the Reserve Bank of India is mandatory. To obtain registration, an NBFC must have a minimum net owned fund of Rs. 25 lakh, raised to Rs. 200 lakh from April 21, 1999. Registered NBFCs must continue meeting eligibility criteria to retain their registration and comply with prudential norms on identification, management statements, and information.

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    To carry on business as a non-banking financial company (NBFC) in India, registration with the Reserve Bank of India is mandatory. To obtain registration, an NBFC must have a minimum net owned fund of Rs. 25 lakh, raised to Rs. 200 lakh from April 21, 1999. Registered NBFCs must continue meeting eligibility criteria to retain their registration and comply with prudential norms on identification, management statements, and information.

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    9 views1 page

    Iv. Pre-Requisite For Carrying On Business of Nbfc4.1 Registration Requirements

    Uploaded by

    Abhishek Tyagi
    To carry on business as a non-banking financial company (NBFC) in India, registration with the Reserve Bank of India is mandatory. To obtain registration, an NBFC must have a minimum net owned fund of Rs. 25 lakh, raised to Rs. 200 lakh from April 21, 1999. Registered NBFCs must continue meeting eligibility criteria to retain their registration and comply with prudential norms on identification, management statements, and information.

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    19 IV. PRE-REQUISITE FOR CARRYING ON BUSINESS OF NBFC4.

    1 Registration Requirements In terms of Section 45-IA of the RBI Act, 1934, it is mandatory that every NBFC shouldbe registered with RBI to commence or carry on any business of non-banking financialinstitution as defined in clause (a) of Section 45 I of the RBI Act, 1934 23 Instruments Act? If yes, details thereof.27.Whether the company was granted any permission by ECD to functionas Full-fledged Money Changers?28.Whether the company was/is authorised by ECD to accept deposits fromNRIs.29. Whether Fit and Proper Norms for Directors have been fulfilled.1. Annex I Identification particulars2. Annex II - Statement on prudential norms3. Annex III - Information about the managementAll NBFCs registered with RBI should make sure that they continue to be eligible toretain the RBI Registration 4.2 Minimum Net-owned Fund A company incorporated under the Companies Act, 1956 and desirous of commencing businessof non-banking financial institution as defined under Section 45 I(a) of the RBI Act, 1934 shouldhave a minimum net owned fund of Rs 25 lakh (raised to Rs 200 lakh w.e.f April 21, 1999).

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