25/04/2020 Financial & Legal Services
The two major financial activities an NBFC undertakes are lending money and accepting deposits. The first step in setting up a Non-Banking Financial Company is following the NBFC registration online process and registering the company before starting its business activities. Without proper registration, the company will not be considered a legal company that can start operating. The Reserve Bank of India has the power to control the operations of the non-banking financial companies, according to the Reserve Bank of India(RBI) Act, 1934.