Non-Banking
Financial Companies are financial institutions that provide banking services
without meeting the legal definition of a bank. In this blog, we will discuss the
meaning of NBFC, it's functions and all other aspects of Non-Banking Financial Companies.
What is Non-Banking Financial Company all about?
Non-Banking Financial Company is
incorporated under the Companies Act, 1956 or the Companies Act.2013 which is
engaged in financial activities comparable to that of a bank. Non-Banking
Financial Companies are financial institutions that provide banking services
without meeting the legal definition of a bank.
Non-Banking Financial Companies can raise funds from the public directly
or indirectly or can freely lend them to spenders. Non-Banking Financial
Company is very popular due to attractive interest rates on the deposits of
investors.
Functions of NBFC
Non-Banking Financial Company has a great financial impact on the Indian economy. Non-Banking Financial Company focuses
on business related to loans and
advances, acquisition of shares, stock, bonds etc issued by Government or any
local authority. Non-Banking
Financial Company aims for economic development of our country.
Circumstances where the one person
need help in the matter of Non-banking
financial companies?
Following are the circumstances under which people may need help in the matter of Non-banking financial companies:
1. Approval of Reserve Bank of India - Reserve
bank of India has revised its earlier directions on the requirement for
obtaining prior approval of the Reserve bank of India in case of
acquisition/transfer of control of Non-banking financial companies. To clear
all your doubt in respect of RBI approval for Non-banking financial companies kindly contact any expert person of Enterslice.
2. Submission
of Documents - A number of documents
required for registration of Non-banking
financial companies. Anyone can get in
trouble while submitting documents. So where you get confused with regard to details of documents you can freely contact
Enterslice or any expert who is appointed in this regard.
3. Avoidance of Rejection - Sometimes applications
filed for registration of Non-banking financial companies are rejected. It will be inconvenient on
part of an applicant seeking Non-banking financial company registration to
tolerate the rejection of his/her registration application. In this scenario,
the applicant or the person who wants to take registration of Non-banking
financial company can contact Enterslice to avoid rejection level and to get a
quick solution in a matter of registration.
4. Changes
in notification and regulations - RBI very often changes notifications and regulations
of NBFC.
The persons working in Non-banking financial companies and having no idea about regulations as well as notifications suffered a lot due to changes in notifications and regulations. All those
persons need professional and expert help to avoid loss in their business.
Those persons are free to contact enterslice to get a clear cut about
notification and regulations.
5. The reversal in liquidity -
Reserve Bank of India makes tough guidelines for Non-banking
financial companies, bringing them on a similar line like of commercial banks. Due to
changes in guidelines, a reversal effect found in liquidity. To know more about RBI guidelines, a person
can contact Enterslice.
Enterslice provides excellent professional services
relating to Non-Banking Financial Companies,
kindly contact any of its expert people
to get better services in a matter of Non-Banking Financial Companies.
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