Non- Banking financial Companies
(NBFCs)
|
Principal Business
|
| Equipment Leasing Company (EL)
|
Equipment leasing of financing of such activity
|
| Hire Purchase Finance Company (HP)
|
Hire purchase transaction or purchasing or such transaction.
|
| Investment Company (IC)
|
Acquisition of securities and trading in such securities to earn a profit
|
| Loan Company (LC)
|
Making loans or advances for any activity other than its own; EL/HP; housing Finance
|
Residuary Non- Banking Companies
(RNBCs)
|
Receives deposits under any scheme or arrangement , by whatever name called, in one lump-sum or in installment by way of contributions or
subscriptions or by sale or units or certificates or other instruments , or in any manner
|
Mutual Benefit Financial Companies
(MBFC) i.e. Nidhi Company
|
Any company which is notified by the central Government as a Nidhi Company under section 620A of the companies Act, 1956. It is a NBFC doing
the business of lending and borrowing with its members or shareholders.
|
Miscellaneous Non- Banking Company
(MNBC) i.e. Chit fund Company
|
Managing . conducting or supervising as a promoter , foreman or agent of any transaction or arrangement by which the company enters into an
agreement with a specified number of subscribers that every one of them shall subscribe a certain amount in installments over a definite
period and that every one such subscribers shallin turn, as determined by lot or by auction or bye tender or in such manner as may be
provided for in the arrangement . be entitled to the prize amount.
|
