NBFC Compliances
Non-Banking Financial Companies (NBFCs) are financial institutions that offer banking services without meeting the legal definition of a bank. They play a crucial role in the financial system by providing various financial services, such as loans, advances, acquisition of shares/stocks/bonds/debentures/securities, and leasing, hire-purchase, insurance business, chit business, etc.
Compliance is an essential aspect of the functioning of NBFCs, and they are required to adhere to various regulations and guidelines issued by regulatory authorities. The regulatory framework for NBFCs in India, for example, is primarily governed by the Reserve Bank of India (RBI). Here are some key compliances that NBFCs typically need to adhere to:
NBFC Compliances
- Registration of NBFC
- Routine NBFC Compliances
- Effect of Non Compliances
- Restructuring of an existing NBFC