Finchampz Advisory helps incorporating and registering NBFC’s including MFIs.
- Incorporation and Registration –
Application procedure to the Reserve Bank for Registration?
The registration process of NBFC will be as follows:
– The main objective of the company needs to be altered to include NBFC activities.
– Check the eligibility of the company for registration as NBFC.
– Download the e-from from https://cosmos.rbi.org.in/. No used id required at this stage.
– Get the required certificate from statutory auditor / chartered accountant.
– Arrange other supporting documents
– Fill up and submit the softcopy of e-form at RBI website (https://cosmos.rbi.org.in/)
– Take the printout of the softcopy on its successful submission. In case date is not appearing mention the date of submission on the printout
– Prepare the hardcopy of the application in triplicate and submit two copies of the same to the regional office of RBI and keep one copy with you for future reference.
Commencement of business:
– NBFC must commence its business within 6 months from the date of Certificate of Registration (COR)
– If not commenced within 6 months the date of Certificate of Registration, the COR will stand cancelled
– No change in control is permitted till the commencement of business
- Structuring Capital – Our firm helps NBFCs in arranging funds and engineering its capital structure with optimum mix (Debt and Equity). The infusion of debt is generally arranged from banks, NBFCs and other lending institutions, whereas the equity can be raised from private equity firms, Venture Capitalists, Institutional Investors etc.
We have strong tie-ups with Banks/NBFCs/FIs providing funds with best Interest rates & other benefits resulting in saving in cost of funds.
- NBFC Compliances – If you have obtained the license, you are strictly required to follow the compliances of NBFC as prescribed. Furthermore, the non-compliance consequences will lead to a hefty penalty and even shutting down the company.
- RBI Liasoning – In a regulated economy, RBI holds the ultimate power in
outlining the rules and regulations for NBFCs in line with the Companies Act, 2013. Such procedural requirements are simplified and met under the framework of Finchampz Advisory along with taking care of all monthly, quarterly and annual compliances.
- Accounting Support – We provide customized accounting services based on the product of NBFCs. We help in adopting the correct accounting methodology based on IGAAP and other accounting standards applicable for NBFCs. Also correct interest calculations/GST and all other related compliances are taken care of.
- Certifications – We provide hassle free and prompt services in Monthly/Quarterly receivable certificates to lenders, foreign remittance certificates & other compliance certificates applicable for NBFCs.
- MIS & SOP – We build customized MIS and SOPs for the NBFCs for ease of the business.
- Buy/ Sell NBFC’s- The entire process required to Buy/Sell NBFCs is under strict regulations by the RBI. All the compliances need to be duly satisfied which means, the Target Company is not to miss in giving any information to the Acquirer Company which is actually needed. Furthermore, in order to complete the process successfully, with Finchampz Advisory, you have an associate to take you by all steps – RBI regulations, accounting, and reporting till the deal closure.
- Fintech Partnerships – NBFC Collaboration/Association is relatively a new business term in which NBFC License holders enters into an Agreement with Fintech companies for sourcing of leads and funding for an agreed amount of fees. This consideration is decided by both the parties mutually.