Nidhi Company Registration Consultant in India in just Rs. 9,999*/-

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Micro Finance Company Registration in India

Get a Professional Consultation for your Finance Company Registration Service !

  • Micro Finance Company Registration
  • Nidhi Company Registration
  • NBFC (Non-Banking Finance Company Registration)

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Micro Finance Company Rgistration, NBFC Registration, Nidhi Company registration

Finance Company Registration Services

Nidhi Company Registration; Nidhi Company Registration Consultant; Nidhi Company Registration Servic

Nidhi Company Registration

Micro Finance Company Registration

Micro Finance Company Registration

Suitable for Starting a New Finance Company Registration

Rs. 9,999/-*

Micro Finance Company Registration

Micro Finance Company Registration

Micro Finance Company Registration

Finance Company Registration without a lot of conditions

Rs. 1,25,000/-

Non-Banking Finance Company

Micro Finance Company Registration

Non-Banking Finance Company

New Finance Company Registration with RBI License

Rs. 4,99,999/-

Micro Finance Company Registration (Section-8)

About Micro Finance Company

 

Micro Finance Company Registration is an ideal process if an entrepreneur is looking for a business of providing funds on an interest basis to the public without getting involved in guidelines of RBI or even Nidhi Rules 2014.

These companies need not follow the banking guidelines as mentioned by RBI circulars and provide easy finance to the weaker section of the society.

Conditions for Micro Finance Company

Financing to those who require funds, this is the ultimate motto of a Micro Finance Company Registration.

  1. Minimum 2 persons required.
  2. No minimum capital requirement, however, suggested a minimum capital of Rs. 1,00,000.
  3. Only Unsecured Loans can be provided.
  4. Interest can't be charged higher than the allowed limit.
  5. Basic documents required only.

Characteristics of Micro Finance Company Registration

NO Need of RBI Approval

For the Benefit of Weaker Section of Society

All Benefits of a Company

RBI guidelines specifically exclude Micro Finance Companies to follow the rules and regulations as applicable on banks or NBFCs, hence Section-08 Micro Finance Company can start its work without RBI Approval or Licence

All Benefits of a Company

For the Benefit of Weaker Section of Society

All Benefits of a Company

Micro Finance Company itself is a company that can enjoy all the benefits that a normal company possesses with it. Similarly, it needs to follow the rules mentioned in the Companies Act 2013 as well.

For the Benefit of Weaker Section of Society

For the Benefit of Weaker Section of Society

Lesser Compliance than other Finance Companies

Section-08 Micro Finance Company has the objective of welfare and upliftment of the weaker section of the society by providing them financial assistance in their business or for their dwellings.

Lesser Compliance than other Finance Companies

Lesser Compliance than other Finance Companies

Lesser Compliance than other Finance Companies

Section-08 Micro Finance Company attracts less compliance to itself than a Nidhi Company or NBFCs or Banks. Because of which it attracts customers in the potential market.

No regulatory condition of Net Owned Funds

Lesser Compliance than other Finance Companies

No regulatory condition of Net Owned Funds

Other Finance Companies like Nidhi Company or NBFCs need to have a certain amount of Net Owned Funds before starting its business, but there is no such condition for Micro Finance Company

Lesser Number of Members Required

Lesser Compliance than other Finance Companies

No regulatory condition of Net Owned Funds

Micro Finance Company Registration can be done minimum with 2 Directors and Shareholders which is lower than other formats of Finance Company Business like 7 members in Nidhi and NBFCs

Interest Income higher than Banks and NBFCs

Interest Income higher than Banks and NBFCs

Interest Income higher than Banks and NBFCs

A Micro Finance Company is allowed to charge interest on loans maximum to Average Base Rate of 5 largest commercial banks multiplied by 2.75 p.a. which will be approx 26% p.a.

Loans up to a Specific Limit

Interest Income higher than Banks and NBFCs

Interest Income higher than Banks and NBFCs

A Micro Finance Company is allowed to provided loans to a weaker section of the society up to Rs. 50,000 and Rs. 1,25,000 to Dwelling Residence.

Provide loans only in unsecured manner

Interest Income higher than Banks and NBFCs

Provide loans only in unsecured manner

Micro Finance Company can provide only unsecured loans which means no collateral can be charged on the loans provided by the company.

Get Your Micro Finance Company Today in Just

Rs. 1,25,000/-

Documents Required for Micro Finance Company Registration

Private limited company consultant

Address Proof of Subscribers

Residential Proof of Subscribers

Residential Proof of Subscribers

  • Election Card or Voter Identity Card
  • Passport
  • Ration Card
  • Driving License
  • Electricity Bill
  • Telephone Bill
  • Aadhar Card  
  • PAN Card

Private Limited Company Registration

Residential Proof of Subscribers

Residential Proof of Subscribers

Residential Proof of Subscribers

  • Bank Statement
  • Bank Passbook
  • Electricity Bill
  • Telephone Bill
  • Mobile Bill

Pvt Ltd Company Registration

Company Specific Documents

Residential Proof of Subscribers

Company Specific Documents

  • Electricity Bill of Registered Address
  • Rent Agreement
  • Rent Receipt
  • 2 proposed company names

Nidhi Company Registration Service

Nidhi Company Registration Service, Nidhi Company Registration Consultant, Nidhi Company Registratio

Key Points for Nidhi Company Registration

  1. For the benefits of Members only, no outsider can take benefits from the company.
  2. Can open Saving A/c, Fixed Deposit Account, and Recurring Deposit Account of the members.
  3. NO RBI Licence IS REQUIRED.
  4. The Lowest cost Finance Company.

Learn more

Non-Banking Finance Company (NBFC) Registration in India

Equivalent to Bank but not a Bank !

Provide loans to people in India freely like a bank.

NBFC Company Registration Consultant Service

+91-9761000459

Rs. 4,99,999/-

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Characteristics of Non-Banking Finance Company Registration

RBI Approval Required to Start an NBFC in India

RBI Approval Required to Start an NBFC in India

RBI Approval Required to Start an NBFC in India

RBI guidelines are applicable to companies registered as NBFC in India which requires mandatory approval from RBI before starting its business in India. Also, the company needs to follow all the regulations as specified by RBI from time to time.

Experienced Director is required in the Company

RBI Approval Required to Start an NBFC in India

RBI Approval Required to Start an NBFC in India

The NBFC Registration process can be completed only if it contains a director who has experience of at least 10 years in financial services. Without an experienced director, RBI approval will not be provided.

Company for Profit

RBI Approval Required to Start an NBFC in India

Highest Compliance than other Finance Companies

Unlike a Micro Finance Company (which is a Non-Profit making company), an NBFC is a profit-making company and can generate profit in the course of its business.

Highest Compliance than other Finance Companies

Highest Compliance than other Finance Companies

Highest Compliance than other Finance Companies

After NBFC Registration Service gets completed company needs to follow all the rules and regulations as mentioned by RBI circulars. As compared to Nidhis and Micro Finance Company, NBFCs have a lot of rules to follow in the course of business.

Minimum Rs. 2 Crores Net Owned Funds Required

Highest Compliance than other Finance Companies

Minimum Rs. 2 Crores Net Owned Funds Required

NBFC needs to have at least Rs. 2 Crore as its Net Owned Capital before applying for a licence from RBI.

Number of Members

Highest Compliance than other Finance Companies

Minimum Rs. 2 Crores Net Owned Funds Required

NBFC can be a Private Limited or Public Limited Company.

  • For Private Limited NBFC minimum 2 members.
  • For Public Limited NBFC minimum 7 members.

Rate of Interest by NBFCs

Provide loans in secured or unsecured manner

Rate of Interest by NBFCs

 The RBI has not specified any interest rate that can be charged by any NBFC. However, to ensure transparency in such matters, the NBFCs have been advised by the Reserve Bank to adopt a Fair Practice Code with the approval of their Boards. 

CIBIL Score is required

Provide loans in secured or unsecured manner

Rate of Interest by NBFCs

RBI Licence for NBFC will be provided only if all the persons or promoters of the company are having a good CIBIL score as of the date of application of license.

Provide loans in secured or unsecured manner

Provide loans in secured or unsecured manner

Provide loans in secured or unsecured manner

NBFCs can provide Secured or Unsecured loans to the public.

There is no such boundation as in the case of Micro Finance Company.

Questions related to NBFC Registration Services

Please reach us at info@taxindia24.com if you cannot find an answer to your question.

NBFC shall not have more than 10% of its total assets as loans meeting “Qualifying Assets” criteria as defined in the Directions. NBFCs are required to abide by the guidelines issued to NBFCs in general, regarding the terms and conditions of these loans. 


A maximum of 50% of the aggregate amount of loans may be extended for other purposes such as housing repairs, education, medical and other emergencies.   The aggregate amount of loans given to a borrower for income generation should constitute at least 50% of the total loans from the NBFC-MFI.  


Home loans generally have mortgages on a dwelling unit. If all conditions as applicable for qualifying assets including collateral-free loans and not less than 50% of the loan for income generation purpose are met, these may be treated as qualifying assets.  


NBFC Registration Process involves intense documentation which can be seen on the website of RBI→ Regulation → Non-Banking → Forms → Documents required for registration of NBFC-MFI 


Processing fees should be booked in the same accounting period in which these are paid/ received and amortization of the same is not permitted in future years.  


Yes, an NBFC-MFI can charge a differential rate of interest to its customers but the variance for individual loans between the minimum and maximum interest rate cannot exceed 4 percent.  


No, an NBFC cannot impose a penalty on the prepayment of loans. 


RBI has made it mandatory for the Company taking NBFC Registration Service to prominently display in all its offices and the literature issued by it and on its website, the effective rate of interest being charged by it.  


Yes,  Every Company taking NBFC Registration Service has to be a member of all Credit Information Companies (CICs) established under the CIC Regulation Act 2005  


The moratorium shall not be less than the frequency of repayment. For example, in the case of the monthly repayment, the moratorium shall not be less than one month.  


No, the credit concentration norms are not applicable to NBFC-MFIs. 


No, Membership in the SRO is not mandatory. However, companies taking NBFC Registration Service are encouraged to voluntarily become members of at least one SRO.  


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