SOMETHING YOU NEED TO KNOW ABOUT NBFC COMPANIES IN HYDERABAD

Nowadays NBFCs (Non-Banking Financial Company) are being preferred over banks by major sector of people, especially those who belong to professions which deal with huge amount of money on a daily basis. For example architects, businessmen etc.
NBC Companies in Hyderabad, like any other NBFCs, are registered under the Companies Act, 1956.
Are all NBFCs registered with RBI? Some of NBFCs that are regulated by other regulations (other than RBI) are not required to be registered with RBI. It is obvious that this is to avert dual regulation of NBFC which can lead to complications.
Which NBFCs are registered with RBI without fail?
1. Equipment Leasing Company.rn2. Hire-purchase Company.rn3. Loan Company.rn4. Investment Company.
The NBFCs belonging to these categories should be registered with RBI.
Recategorized on December 6, 2006, the above NBFCs are recognised as
●Asset Finance Company (AFC). ●Investment Company (IC). ●Loan Company (LC).
What is an AFC?
A financial institution whose principal business includes the financing of physical assets supporting the productive or the economic activity, such as automobiles, generator sets, and industrial machines that are used to produce various materials.
Before financing the physical assets, AFCs make sure that they are capable of arising at least 60% of income that is invested in them.
The List of NBFC in Hyderabad that is Residuary Non-Banking Companies is also registered as NBFC with the bank. They are required to have a minimum net owned fund of Rs 25 lakh (at present it is raised to 2 crores).
Want to make sure that the NBFC is registered with RBI before applying for a loan?
You can find the list of NBFC companies in Hyderabadthat are registered with RBI by searching it on Google.
This basic awareness will really be helpful for you to get a clear picture of NBFC.