How many types of non-banking financial companies are there?

Housing Finance Companies, Merchant Banking Companies, Stock Exchanges, Companies engaged in the business of stock-broking/sub-broking, Venture Capital Fund Companies, Insurance companies, Nidhi Companies, and Chit Fund Companies are NBFCs but they are exempt from registration u/s 45-IA of the RBI Act, 1934.

What are the different types of non-banking financial institutions?

Examples of nonbank financial institutions include insurance firms, venture capitalists, currency exchanges, some microloan organizations, and pawn shops. These non-bank financial institutions provide services that are not necessarily suited to banks, serve as competition to banks, and specialize in sectors or groups.

How many non-banking financial companies are there in India?

As of January 31, 2021, there were 9,507 non-banking financial companies (NBFCs) registered with the Reserve Bank of India. The vast majority of over nine thousand NBFCs belonged to the non-deposit taking category.

How many different types of NBFCs are registered with RBI?

On 22nd February 2019, RBI has released a notification on “Harmonization of the Non-Banking Financial Companies (NBFCs) Categories.” In the Notice, RBI decided to merge the 3 NBFCs (Asset Company, Investment Company, and Loan Company) into one named as NBFC-Investment and Credit Company.

What is Type 1 and Type 2 NBFC?

For the purpose of issuing certificates of registration (CoRs), NBFCs were categorised as Type I and Type II companies in June 2016. The applications for Type I NBFCs, which do not have / intend to accept public funds and do not have / intend to have customer interface, are considered on a fast-track basis.

What is the difference between NBFC and Nbfi?

Nonbank financial companies (NBFCs), also known as nonbank financial institutions (NBFIs) are entities that provide certain bank-like and financial services but do not hold a banking license.

Which companies comes under NBFC?

The Top 10 NBFCs in India, 2021

• Power Finance Corporation Limited.
• Shriram Transport Finance Company Limited.
• Bajaj Finance Limited.
• Mahindra & Mahindra Financial Services Limited.
• Muthoot Finance Ltd.
• HDB Finance Services.
• Cholamandalam.
• Tata Capital Financial Services Ltd.

What are non banking financial companies explain different types of NBFC?

The different types of NBFCs

• Asset Finance Company.
• Loan Company.
• Mortgage Guarantee Company.
• Investment Company.
• Core Investment Company.
• Infrastructure Finance Company.
• Micro Finance Company.
• Housing Finance Company.

What is Category A NBFC?

NBFCs are categorized a) in terms of the type of liabilities into Deposit and Non-Deposit accepting NBFCs, b) non deposit taking NBFCs by their size into systemically important and other non-deposit holding companies (NBFC-NDSI and NBFC-ND) and c) by the kind of activity they conduct.

What are Type 1 NBFCs?

Type 1 – NBFC-ND are the NBFC’s which do not intend to have a customer interface in the future, not having customer interface, not intending to accept public funds in the future and not accepting public funds currently.

What are the different types of non-banking financial companies (NBFC)?

RBI licenses all Different types of Non-Banking Financial Companies. Various types of NBFC are Asset Finance Company, Investment company, Investment Company, Infrastructure Finance Company, Housing Finance Company, Micro Finance Company etc.

What are the different types of NBFCs in India?

Types of NBFC in India: 2.1. 1. Asset Finance Company (AFC): 2.2. 2. Investment Company: 2.3. 3. Loan Company: 2.4. 4. Infrastructure Finance Company: 2.5. 5. Infrastructure Debt Funds: 2.6. 6. Factoring NBFCs: 2.7. 7. Gold Loan Lenders: 2.8. 8. Residuary Non Banking Companies: 2.9. 9. Microfinance Institutions (MFI): 3.

What is the regulatory framework for non-banking financial institutions in India?

Recently, the Reserve Bank of India has proposed a tighter regulatory framework for Non-Banking Financial Institutions by creating a four-tier structure with a progressive increase in the intensity of regulation. Further information about the Reserve Bank of India is available in detail on the linked page.

What are the types of financial institutions in India?

The major categories of financial institutions include central banks, retail and commercial banks, internet banks, credit unions, savings, and loans associations, investment banks, investment companies, brokerage firms, insurance companies, and mortgage companies. What are development financial institutions in India?