The Non-Banking Financial Company (NBFC) aids in taking loans for business, advance, shares or stocks acquisition, chit business, hire and purchase, deposit receiving and few others. It is having the registration under India Companies Act, 1956 and being looked by Reserve Bank of India (RBI) under Act 1934. To become a part of the NBFC one can check click the link https://enterslice.com/nbfc-registration and fill the form for NBFC Regsitration. But before applying to obtain a license from NBFC it is necessary to know what the types of companies for finance are:
Asset Finance Company (AFC): As the name signifies it provides finance to companies which are looking for major physical assets. These assets comprise of material handling equipment, generator sets, tractors and few others which are being utilized for the business purpose. With the NBFC License, the obtaining of AFC becomes easier.
Loan Company (LC): RBI License is given to the regulatory framework being done by NBFC LC. The Loan is provided with keeping the principal business in mind. The loan or advances are provided with checking every aspect and also have a different mindset from any other banks.
Infrastructure Debt Fund (IDF): The work of IDF is to give debts for long terms for infrastructure projects. The term of the loan Debt depends on the maturity time period for which the debt is taken.
Gold Loan: The Gold loan is one of the most used loan facility that is being provided in India. People put the gold that they have to get an appropriate amount of their business. With this, a person is able to get the right amount compared to others.
Investment Company (IC): It helps in taking out the functions of financial institutions with security acquisition like bonds, shares, stocks and few others. This also keeps a check on the working of the acquisition that is being taken out in the market.
Infrastructure Finance Company (IFC): The IFC is a type of company which takes into providing loans from its own 75% assets and converting it to infrastructure loans. They are having their own rules and regulations and to more about them visit the link https://enterslice.com/nbfc-registration.
Residuary Non-Banking Companies (RNBCs): These are those companies which are ready to provide a deposit in their own principle ways. They are a type of banks but having their own rules which are to be followed when taking or providing loans.