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corpseedites03
Jun 04, 2021
In Get Started with Your Forum
NBFC Registration Procedure has been simplified by RBI by providing online platform to applicants. An existing company or a newly incorporated Company under the Companies Act 2013/1956 needs The RBI Act 1934, as well as the regulations and rules set forth in Chapter III B of the RBI Act 1934, govern, oversee, and control all activities, transactions, and operations of NBFCs in India. Certain types of NBFCs that are regulated by other regulators, such as Venture Capital Fund/Merchant Banking companies, Stockbroking companies registered with SEBI, Insurance Companies holding a valid Certificate of Registration issued by IRDA, are exempted from the requirement of registration with RBI under the powers given to the Reserve Bank to avoid dual regulation. Corporations notified under Section 620A of the Companies Act, 1956, are Nidhi companies. Chit companies as defined in clause (b) of Section 2 of the Chit Funds Act, 1982,
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