Obtain Asset Finance Company Registration
Posted by NBFC on September 15th, 2018
First and foremost an Asset Finance Company (AFC) is a Non-Banking Financial Institution (NBFC). An Asset Finance Company under the Reserve Bank of India Act is a financial institution whose principal business is to finance physical assets supporting productive/economic activity like automobiles and cars, machineries like generator sets, lathe machines, earth moving equipment, tractors, machines, and material handling equipment and industrial machines used for general purpose. It is a for-profit business company.
Some facts and figures
A detailed list of all the existing Asset finance companies in India is available at the official website of the Reserve Bank of India. Currently, there are roughly about 399 Asset finance companies in India that are registered with RBI. As per a directive of RBI in 2017, an asset finance company:-
Can accept or renew public deposit, but in such case, the total amount along with the outstanding amount in the books of the company on the date of acceptance or renewal of such a deposit cannot exceed one and one-half times the value of its Net Owned Fund. An Asset Finance company already having more than one and one-half times of its Net Owned Fund cannot renew or accept fresh deposits till the time it reaches the revised limit.
In order to register an Asset Finance Company with the Reserve Bank of India, the steps include:-
The documents required for registering as an Asset Finance Company with RBI are:-
Registering an Asset Finance company is no mean an easy task. It is advisable to hire the services of an experienced financial and legal advisor in order to proceed smoothly and have the registration done without any hiccups.
For a company intending to register as an Asset Finance company with the RBI, the first step as mentioned above is to incorporate the company. The documents required for Incorporation include:-
About the AuthorNBFC
Joined: June 9th, 2018
Articles Posted: 1
HOTBIT Crypto Exchange
Hotbit is one of the professional digital asset exchange platforms that provide trading services among major digital currencies like Bitcoin, Litecoin and Ethereum for users from all over the world.
The World's Leading Crypto Asset Trading Platform
Miny is a cryptocurrency cloud pool mining company with large computational power. Invest and mine Bitcoin, Ethereum, Litecoin through our cloud and earn today!
MXC | Bitcoin Trading Platform-Bitcoin_Litecoin Real-time Price Quotes | MXC Exchange
MXC Exchange is the world's leading digital asset platform. It provides real-time price quotations in multiple currencies such as BTC, LTC and ETH, and supports hundreds of digital assets trading and investment information. MXC Exchange is best choice
7Figure Super Affiliate Training System
This 7Figure Super Affiliate Training System Show's Affiliates In Any Company Or Industry, How To Create A 7 Figure Income In THEIR Business.
Nitsova Cashflow Management & Budgeting Web App
Online Personal Finance Software. Cashflow Tracking and Budget Planning.