Registration of the Non banking financial companies is very important because it is only with the help of registration proper regulation and management of these companies is possible. Under the RBI act 1934 it is mandatory for all the companies to register with the RBI as a deposit taking company, the basic criteria laid down by the RBI is that a deposit company should have net owned fund of Rs 25 lakh. For the registration of NBFC a company has to make an application to the RBI in a prescribed format along with the necessary documents. If the Reserve Bank of India is satisfied that the necessary conditions satisfied then the RBI will grand NBFC registration certificate to the applicant.
