Guidelines for NBFC formation

Querist : Anonymous (Querist) 25 May 2010 This query is : Resolved
I would like to know what are the RBI guidelines and procedure for registering a company for NBFC

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Manish Singh (Expert) 25 May 2010
the main regulation for NBFCs is this but do go through the amnedments till date

“Non-Banking Financial Companies Acceptance of Public
Deposits (Reserve Bank) Directions, 1998”

Raj Kumar Makkad (Expert) 25 May 2010
I go with Manish.

G.Sanjeeva Reddy (Expert) 27 May 2010
There are many guide lines framed by the RBI in form notifications from time to time with reference to NBFCs.One of the main requirement is "A company incorporated under the Companies Act, 1956 and desirous of commencing business of non-banking financial institution as defined under Section 45 I(a) of the RBI Act, 1934 should have a minimum net owned fund of Rs 25 lakh (raised to Rs 200 lakh w.e.f April 21, 1999)." For detailed study of NBFC's visit the following site: http://www.rbi.org.in/scripts/FAQView.aspx?Id=71

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