Regulatory Framework of Non- Banking Financial Companies in India
NBFCs are the companies which are engaged in the business of providing finance through loans and/or investments in other companies. As per the provisions of Section 45I of the RBI Act, a company registered under the Companies Act, 1956 or any other corresponding legislation for the time being in force, which is engaged in the business of acquisition of Mr. Pankaj Singla Sr. Associate +919971508320 pankaj@indiacp.com shares/ bonds/ debentures/ securities or other marketable securities like leasing, hire-purchase, insurance business, chit business, loans and advances is considered as an NBFC. Similarly, a company engaged in the business of receiving deposits under a scheme or arrangement of lump sum or instalments (by way of contributions or any other manner) is also included within the ambit of the NBFCs.