NBFC is governed under the Companies Act 1956. NBFC is also a Bank It is a financial company that works like a financial company, which deals with money transactions but, one special thing in this is that, it is completely different from the bank because, it is not any type of banking but it is only one of the banks. is part. Investment in this is also not done like a bank.
NBFC company first deposits the money of the people under any deposit scheme and then provides them many types of loans. To take advantage of this type of scheme, many people invest in it. If you also want to know about NBFC, then here you are being given complete information about what is NBFC, importance of NBFC, registration.
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NBFC full form
NBFC Full Form “Non Banking Financial Company” happens | This HIndi language It is called a non-banking financial company. Means that such a company which does financial transaction work, but it is not a bank company, its functions definitely look like a bank, but legally it is not a bank but it is a finance company that deals with money. Aadhar works as a transaction. NBFC company does not do the work of investing in fixed money amount, whereas bank does the work of investing in both movable and immovable money amount.
What is NBFC?
NBFC company, like all banks, works to deposit people’s money in a deposit scheme and provides them with many types of loans. It is a financial institution, which works like a bank but, it is not like a bank. This is what is called NBFC. This company first deposits money from the depositor under a scheme, after which it provides some part of the profits to the depositor in the form of a loan. such company deposits, Insurance, Loan, Shareworks to invest in stocks.
Some functions of NBFCs are also under the Reserve Bank of India because, different arrangements are made for other companies such as IRDA for insurance companies, merchant banking company, venture capital company, stock Securities and Exchange Board of India for Broking Company and Mutual Funds (SEBI), National Housing Bank (NHB) for housing finance companies, Department of Corporate Affairs (DCA) for Nidhi companies and for Chit Fund companies State government has the responsibility of
in all banks credit card, debit cardpassbook, Cheque BookFacilities like internet banking, money transfer would be available but, NBFC is a company that provides bonds of money deposited by someone. NBFC mainly deals in lending, insurance business, investing in various types of shares, bonds, stocks, debentures, securities, chit related activities. There is no such company under NBFC, which is mainly engaged in business agriculture, industrial, business related activities or construction / purchase / sale of immovable property. If the government had not implemented section 45 of 1934, then today all the companies in the world would have been non-financial companies.
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Importance of NBFCs
By the way, the way this company works Bank But, like a bank, this company does not get funds at a cheaper rate. Therefore, all such companies have to borrow from banks, after which these companies are able to give their funds through non-convertible debentures (NCD) and commercial paper. This company issues non-convertible debentures, called a bond, for borrowing.
Apart from this, the Mudra scheme of the Government of India is also being run through NBFCs. The name of that currency is Micro Units Development and Refinance Agency Limited (Posture) has been placed. This Mudra Yojana has been started to provide loans for small people. Asset reconstruction company to be registered under SARFAESI Act is notified by the government as NBFC only.
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How to register NBFC
- To register in NBFC, you will need some of the required documents mentioned below.
- To register in this, you have to contact the NBFC and fill the application form.
- You will be placed in Type 1 and Type 2 to fill the application form. The people who will be kept in Type 1 will be registered soon. After this the registration of type 2 people will be done.
here we give you Information about NBFCs is provided. If you want to get more information related to this then you can www.hindiraj.com can visit on Along with this, if you want to ask your thoughts or suggestions or questions regarding the given information, then you can contact through the comment box. We are waiting for your questions and suggestions.
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