Non-Banking Financial Company, popularly known as NBFC, is a company registered under the Companies Act, 2013, which is engaged in several financial services like providing loans, supporting credit facilities, assets financing, currency exchange, lending, and many more functions. An NBFC License in India is done as per the rules and regulations of the RBI Act. What is NBFC? Under Section 45-1 (c) of the Reserve Bank of India Act, 1934, any non-banking company providing any financial services are considered as NBFC. Ministry Of Corporate Affairs and RBI governs the NBFCs. Non-Banking Financial Company is the financial institution that offers banking services but does not hold any banking license. A Non-Banking Institution has the principal business of receiving deposits underneath any scheme or arrangement or in any other prescribed manner. Such deposits and can be obtained in one lump sum or installments by way of contribution. Some NBFCs do not require registration f...