Apply for IndiaNBFCNecessary conditions for license plates

In the past year or two, following the tightening of financial market regulation in Indonesia, most Chinese mutual fund companies have started to shift to the Indian market. Non bank financial companies in India(NBFC)The history of can be traced back to its1947Before independence in, the overall number showed an increasing trend, and in recent years, it has been highly favored by foreign investment. India is an emerging economy similar to ChinaNBFCThe existence of 'can to some extent fill some gaps in its socio-economic system. At the regulatory level, the Indian government and its Central Reserve Bank(RBI)Gradually establish a relatively complete regulatory system to standardize by introducing, modifying, and updating regulations and policiesNBFOFrom birth to death. Looking at its regulatory system, although there are still many shortcomings and gaps, and as a case law country, India's written code is not comprehensiveRBIThrough one circular after another(Notification)Establish a standardized system of "strict entry and exit" to gradually clarify supervision and facilitate the wider publicNBFCProvided operational guidelines for licensing and operation. On the plan2020For companies that enter the Indian market through licensing applications in the future, only sustained attention is neededRBIOnly through strict management can we find a "glimmer of vitality" in various types of communication surfaces.

What is IndiaNBFClicense plate?

NBFC（Non-banking finance company）Non bank financial companies.This question is mainly aboutsolutionNBFCLicense plate classification andP2PIntroduction to the license plate of the loan company.NBFCIt's IndiaIn addition to state-owned banks, private banks, foreign banks, and payment banks（paymentbank）Other financial institutions (companies) outside of,In India1965The company law promulgated in formally stipulated this entity. And now when we talk about cash lending companies, more specifically, we meanNBFCLoan companies providing financing services in China（LC）。

NBFCClassification of

（1）Asset financing company（AFC）：Asset financing companies mainly operate physical asset financing to support production and economic activities, such as automobiles, tractors, lathes, generator sets, hardware components, general industrial machinery, etc. For asset financing companies, the central bank requires them to provide the total amount of physical asset financing for economic activities and the resulting income, which shall not be less than 60% of total assets and total income, respectively.

（2）Investment Company（IC）：It refers to financial institutions (companies) whose main business is securities acquisition.

（3）Loan Company（LC）：Financial institutions (companies) that provide financing services (whether through loans, advances or other means), but do not include asset financing companies.

（4）Infrastructure Finance Company（IFC）：It refers to owning30Net assets of over 100 million rupees and will be at least75%A reputable financial institution whose total assets are used for infrastructure loans.

（5）Infrastructure Debt Fund（IDF-NBFC）：It is a financial institution operating to promote long-term debt inflows into infrastructure projects.IDF-NBFCThe sponsor can only be an infrastructure finance company（IFC）。

（6）Small financial institutions（NBFC-MFI）：It is a non deposit natureNBFCMust have a value greater than85%Qualified assets that meet the specific standards of the central bank, and the types and amounts of customers who issue loans, will be subject to certain restrictions.

（7）Factoring company（NBFC-Factors）：It is a financial institution engaged in factoring business. The financial assets and factoring revenue in factoring business shall not be less than half of their total assets and total revenue, respectively.

（8）Mortgage Guarantee Company（MGC）：It refers to at least90%The turnover comes from mortgage guarantee business, or at least90%The total income comes from mortgage guarantee business, and the net assets are at least10A financial institution worth billions of rupees.

（9）Non operating financial holding company（NOFHC）：It is a financial institution that allows the initiator or group of initiators to establish new banks, hold banks, and any other financial service companies that comply with regulatory requirements and are regulated by other financial regulatory agencies.

Among the various types of licenses, what is directly related to internet finance isNBFCLoan companies providing financing services in China（LC）Two subcategories in:NBFC-ICCLicense plate and NBFC-P2Plicense plate.

According to the regulations of the Bank of India, NBFC Loan Company and P2P Lending platforms must obtain separate NBFC-ICC License plate and NBFC-P2P Business can only be carried out after obtaining a license. The former is similar to domestic small loan institutions, while the latter is similar to domestic small loan institutionsP2P Matching platforms are similar. According to the Bank of India, as of 2019 year 8In January, registered with the Bank of IndiaNBFC The licensed financial institution has reached1 More than ten thousand households, the vast majority of which areNBFC-ICC Loan Company.

NBFCWhat are the conditions for applying for registration?

1. The company needs to rely on2013Year or1956Registered under the Companies Act of

2. The company's net assets should be at least2Crore rupee

3. CorporateCIBIL(Indian credit registration agency) records no violations

4. According to IndiaFDIDefine the upper limit for the proportion of foreign investment in confirmed business

5. At least two shareholders are required, with a maximum of50Shareholders

6. At least two directors are required, including directors with years of experience in finance

demand1List of documents (to be submitted toRBI）

1. Certified copy of company registration certificate

2. The main clauses related to financial business in the memorandum of association of our company

3. Board resolutions regarding the following matters

a. Adhere to the 'Code of Fair Practice' (refer toRBIGuiding Opinions)

b. Previously not engaged in activities related toNBFCRelated activities

c. Previously not engaged in any acceptance of public deposits

4. During or near the existence of all companies3Audited balance sheet, income statement, director's report, audit report, etc. for the year

5. Copy of the highest educational certificate and professional qualification of the director

6. Director's experience in financial services, including banking (copies of proof required)

7. Deposit and loan records of the company's bank account on the application date, as well as bank statement proof.

8. Documents related to company management and operations

9. Company Memorandum of Association（MOA）And the company's articles of association（AOA）

10. Proof of company address and no objection statement issued by the landlord

11. pay taxesPANcode

Application process:

1、Establish a paid in scarves company with at least2A company with tens of millions of rupees (equity share capital rather than preferred share capital);

2、Opening a bank account (at least2Crore rupees);

3、Online imageRBIRegional branches submit applications;

4、towardsRBISubmit relevant documents (see the requirements above for the list of documents);

5、Grant Certificate

Note: Once the application is submitted, it will be submitted byRBIConduct an audit.RBIMore detailed documents may be requested at any time. IfRBIThe application has been confirmed to be completed, and all relevant documents have been submitted and meet all requirements,RBIWill be awarded to the applicantNBFClicense plate.

IndiaNBFCThat's all for a brief introduction to the license plate. If you want to learn more, please feel free to consult - Xiaochun