The term NBFC signifies the Non-Banking Financial Company. The company is involved in businesses and acquisitions, commonly known as NBFC. NBFC deals with the government and other local authorities. There are several institutions with which NBFC doesn’t deal at all. We shall discuss the name of those institutions also. Under the Companies Act, 1956, the NBFC is registered. So here in this article, today we will discuss the List of NBFCs registered with RBI, NBFC registration fees, and NBFC registration online. We shall also discuss the registration process and the eligibility for the licence. So let us start our discussion. 

What are NBFCs?

NBFC is a non-banking financial company. Its name is already telling much about its foundation. In a nutshell, NBFC is different from banks, but different companies are treated as NBFC. NBFC is known for dealing with several acquisitions and businesses. The businesses NBFC deals with are like businesses related to advances and loans. Besides that, the stocks, debentures, bonds, shares, and securities are acquired by the NBFC. 

NBFC Registration Online:

First of all, we shall discuss the requirements of NBFC registration online. So mainly there are two requirements. 

  • First of all, the company should be registered in India either as a Private limited company or a limited company. 
  • The second requirement is the minimum net owned fund of the company, i.e., Rs. 200 lakhs or two crores. The net-owned fund is very important for granting an NBFC licence, so one should check the net-owned fund before applying for the licence; otherwise, the licence will be denied, or the application will be rejected. 

The registration process is described in the following steps. 

The procedure of NBFC registration is as follows: 

  • RBI’s Certificate of Registration (COR) is compulsory to commence the business as NBFC. 
  • An application with the right format and necessary attachments is submitted for scrutiny. 
  • Then after the assessment, COR is issued by the RBI. 
  • If the company complies with all the eligibility for the licence, then the application should be made through the online website of RBI. 
  • After applying online, an application reference number (ARN) is issued by the RBI to track the status of the application. 
  • After getting ARN, the hard copy of the application and necessary documents should be submitted to RBI. 
  • When RBI accepts the application, then the licence is granted or denied on assessment of the company profile, shareholder profile, and other documents. 

This was the process of registering for the NBFC licence online. The NBFC registration fee is Rs. 3,50,000 for obtaining the licence. 

List of NBFCs registered with RBI: 

Here is a List of NBFCs registered with the RBI of the top 25 companies that are

  • Shriram Transport Finance Company Limited
  • Power Finance Corporation Limited
  • Muthoot Finance
  • Manappuram Finance Limited
  • Bajaj Finserv Ltd.
  • Sundaram Finance
  • Reliance Capital Limited
  • HDB Financial Services
  • L&T Finance Holdings Limited
  • Shriram City
  • Mahindra & Mahindra Financial Limited
  •  Indian Railway Finance Corporation Limited
  • Edelweiss Group
  • HDB Financial Services
  • PTC India Financial Services Limited
  • IDFC FIRST Bank
  • Aditya Birla Finance Limited
  • Motilal Oswal
  • Bajaj Finance Limited
  • Tata Capital Financial Services Limited 
  • Tata Capital
  • Magma Fincorp Limited
  • India Infoline
  • Cholamandalam Investment and Finance
  • Fullerton India Credit Company Limited

These are the names of the top 25 companies listed in NBFC. One can easily apply for a licence through the official website of RBI. The NBFC registration fee is Rs. 3,50,000.

Conclusion

So this article was all about the List of NBFCs registered with RBI, NBFC registration fees, and NBFC registration online. We have discussed the basic details of a Non-banking financial company. Besides it, we have discussed the registration process for the NBFC licence, the required fee for an NBFC licence, eligibility for a Non-banking financial company licence, and much more. We also discussed the cases when a company be treated as NBFC. We have described the names of the top 25 companies listed in the Non-Banking Financial Company and the procedure of NBFC registration. The difference between banks and Non-banking financial companies is also explained above.