The NBFC sector plays a vital role in India’s financial ecosystem. NBFCs, though similar to banks, differ as they cannot accept demand deposits, issue cheques, or offer deposit insurance. RBI classifies NBFCs based on business activity and deposit acceptance, applying strict eligibility norms like company incorporation, ₹10 Cr Net Owned Fund, fit & proper promoters, a sound business p... https://www.skmcglobal.com/blog/procedure-for-obtaining-nbfc-registration-in-india