NBFC Registration Procedure
Any company want to get registered as Non banking financial company then that company have to :
- Make an application to the Reserve Bank of India for the grant of NBFC certificate.
- Attach the necessary documents. All the documents which are to be submitted along with the application are to be filed in duplicate.
- After scrutinizing the application and all the necessary documents required for registration, if the Reserve Bank of India deems fit then NBFC certificate is to be granted.
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The NBFCs that are registered with RBI are:
- equipment leasing company;
- Hire -purchase company;
- loan company;
- Investment Company;
The above type of companies may be further classified into those accepting deposits or those not accepting deposits.
Residuary Non-Banking Company
The RBI had tightened the prudential norm on capital adequacy for NBFCs, prescribing these companies to maintain higher capital adequacy ratio of 15% with effect from March-end 2012, against the present ratio of 12%.