Benefits of Hiring a Consultant for the NBFC Registration Process

November 08, 2024
Registrationwala

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Benefits of Hiring a Consultant for the NBFC Registration Process

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Benefits of Hiring a Consultant for the NBFC Registration Process

November 08, 2024

Registrationwala

NBFC registration is a kind of authorization granted to entities interested in serving as Non-Banking Financial Companies. In India, this registration is granted by the Reserve Bank of India (RBI). Reach out to Registrationwala’s consultants if you want to obtain an NBFC license as smoothly and easily as possible!

About NBFCs

NBFCs are financial institutions that offer a wide range of financial products to their customers. Some services include providing loans, insurance, and wealth management services. NBFCs are similar to the traditional banks. However, unlike traditional banks, NBFC cannot accept demand deposits.

NBFCs have been around in India since the 1960s when it became an alternative go-to for savers and investors whose financial needs weren’t met by the traditional banks of that time. All the NBFCs are regulated by the RBI, under the RBI Act 1934.

Some famous examples of NBFC are Tata Capital Limited, Bajaj Finserv Limited, Larson & Toubro Finance Limited and Mahindra & Mahindra Financial Services Limited.

Need for NBFC Certificate

As mentioned earlier, all the NBFCs in India are regulated and supervised by the RBI. This helps the central bank to make sure that these institutions comply with the rules and regulations. A part of RBI’s rules and regulations involves obtaining NBFC certificate for providing financial services as a non-banking financial institution.

Without authorization from RBI, an entity cannot serve as an NBFC. If it dares to, it’ll face legal repercussions.

Why should you hire a consultant for NBFC Registration Process?

Hiring an experienced consultant for any license or registration process can make things easier for an applicant. Of course, if you want, you can finish the entire process on your own. Nobody will stop you.

However, don’t you think understanding all the requirements can be a bit draining? Besides, wouldn’t you want a helping hand who can increase the chances of getting your application for NBFC registration approved? If your answer is yes to these questions, then you definitely would want to hire a consultant for NBFC certificate.

Want to Simplify NBFC registration with expert consultants? Reach out to the Registrationwala team.

Advantages of hiring an NBFC Registration Consultant

Now, let’s get to the point. Let’s check out the NBFC Registration consultant benefits:

An NBFC consultant offers professional help with NBFC licensing. They can help you out with filing complex paperwork, so the application process becomes easy for you.
NBFC consultants know the RBI rules well, so the chances of making mistakes is reduced to a great extent.
They can save a lot of your precious time by guiding you through the right steps involved in the NBFC license process.
An experienced NBFC consultant can handle issues in a quick manner, leading to faster application approval.
They know about all the NBFC forms and the manner in which they must be filled. As a result, the applicants can avoid costly errors.

How Registrationwala consultants can help in NBFC License

If you’re convinced you want to hire an NBFC consultant, then look for the best in the town! When we say the best in the town, we’re referring to our own consultants at Registrationwala.

Why do we say we are the best? Well, because, we can help you in obtaining NBFC license in the following manner:

Document drafting.
Filling out the application form and submitting it successfully.
Conducting follow-ups with clients and RBI.
Dealing with discrepancies arising at the time of application assessment.
Delivering the NBFC license to our clients.

So, if you want to obtain NBFC license registration for your business, we’re your best bet! Also, don’t worry, we’ll make sure everything’s cost-effective for you. Don’t wait and give us a call for NBFC registration process assistance!

Conclusion

Hiring a consultant to help you out in the NBFC registration process is a great idea. You’ll be able to file an application for the NBFC license easily, and increase your chances of obtaining this license to a great extent! Reach out to us, so you can start providing NBFC services to your clients as soon as possible!

Frequently Asked Questions (FAQs)

Q1. Which authority grants NBFC registration in India?

A. The Reserve Bank of India (RBI) grants NBFC registration license in India.

Q2. Are NBFCs the same as banks?

A. No, NBFCs are not the same as banks. Banks can accept demand deposits, but NBFCs cannot.

Q3. What services can be offered by NBFCs?

A. NBFCs can offer a variety of financial services, including offering loans, issuing debit cards, leasing, insurance and investment and asset management services.

Q4. Which act governs NBFCs in India?

A. NBFCs in India are governed under Reserve Bank of India Act 1934.

Q5. Does Registrationwala provide NBFC registration consultancy services?

A. Yes, Registrationwala provides NBFC registration consultancy services to entities wanting to provide financial services to their clients.