Should it be registered as nbfc ?

From what  I read it  is cler that it is NBFC and will need the approval of RBI.If you appreciate this answer please give me  all my profile likes.

1.  IF a registered Co. conducts business of "Lending & Receiving" of Money, necessarily on levy of Interest basis, THEN such Co. has to mandatorily register itself as a NBFC with the RBI.

2.  HOWEVER, in the present query, there is no element of "Lending & Receiving" of Money, BUT only convienence of Trading on commision (profit-sharing) basis, with Tri-Party Credit facility.  Such activity does not classify itself as NBFC.  However relevant S&E and Trade License etc.... are mandatory.

Keep Smiling .... Hemant Agarwal
VISIT:  https://www.maharashtra-society-help-forum.com

Thanks for your response Mr. Agarwal, still If the buyer chose to pay directly to us rather than the tied-up merchant or vendor, We are recieving that amount to our Bank Account via Bank transfer. 

Thereafter we will be transferring the funds to tied-up merchant deducting our sales/affiliate margin.

I, based on nature of operation, it's a kind of semi-closed wallet.

I couldn't understand the term "Tri-Party Credit Facility".

Please suggest.

Thanks

Ranvijay

Kindly prefer to "RE-READ"  my reply, this time more  "S-L-O-W-L-Y",  more specifically point no. 1.

Keep Smiling .... Hemant Agarwal
VISIT:  https://www.maharashtra-society-help-forum.com