A non-banking financial company is a financial organization that does not remember a banking license but is authorized to request financial properties and assistance to its clients. A company encompassed under the companies act, 1956 and desirous of initiating the process of  getting NBFC registration from RBI are distinguished under section 45 I(a) of the RBI act, 1934. If a person wants to register their company as a non-banking financial company with RBI, one application is to be made to the RBI as per NBFC registration requirement like submitting various documents or instructions. The petition is to be fulfilled in two distinct pairs tied up appropriately in two files. Annex 2 to be submitted duly signed by the director or authorized signatory and certified by statutory auditors. Non-banking financial companies in India are regulated by the reserve bank of India (RBI). As per the Reserve bank of India guidelines, an NBFC can not carry on non-banking financial business if, it does not have a certificate of registration from the bank(except for the non-banking financial companies who are not regulated by the reserve bank of India ), it does not have Net owned funds of Rs. 2 crores.

A non-banking financial incorporated under the companies act, 1956 or companies act, 2013 willing to commence a business of non-banking finance should comply with the following RBI guidelines;
         • It must be enrolled under section 3 of the companies act, 2013 or the companies act, 1956.
         • It should satisfy the regulation of a minimum of Rs. 2 crores of net inhabited budgets (except for NBFC-MFIs, NBFC-factors, and CIC).

Step 1: register the corporation under the companies act 2013 or under the companies act 1956.
Step 2: minimum net owned funds of the corporation should be at least Rs. 2 crores or more.
Step 3: there should be at least one director in the company from the same background.
Step 4: good CIBIL score is required to present in order to register as a non-banking financial company.
Step 5: next, visited RBI's official website and fill in the petition form.
Step 6: accept all the mandatory documents along with the petition form.
Step 7: once you have fulfilled the petition aspect, a CARN number will be developed.
Step 8: transmit the hard manuscript of the petition to the limited sector of the reserve bank of India (RBI).
Step 9: after the petition is tested and substantiated, the license will be provided to the company.

Where can one find a schedule of enrolled non-banking financial companies and pedagogy issued to non-banking financial companies- the list of registered NBFCs is available on the website of the reserve bank of India and can view at www.rbi.org.in -- > sitemap -- > NBFC List. The instructions issues to non-banking financial companies from time to time are also hosted at www.rbi.org.in -- > notifications -- > master circulars -- > non-banking, besides, bring issued through official gazette notifications and press releases.

Certificate of company incorporation, detailed information about the management along with a brochure of the company. A copy of the PAN/Corporate identification number(CIN) of the company. Document related to the office location or address, certified copy of the memorandum of association(MOA), and articles of association(AOA). A Schedule of directors' contours duly approved by each director must be affixed. IBIL/credit reports of the directors of the board resolution which certifies that the company has not carried out or stopped non-banking financial company activity and will not carry any until the registration from the reserve bank India is granted. A board resolution on ‘fair practices code' is to be submitted. Certificate handed out by the statutory auditor stating that the corporation is not clenching the community deposit and does not approve it as well, a certificate specifying occupied funds as on the duration of the petition from the statutory auditor is required. Evidence regarding the bank account, balances, loans, credits, etc. is to provide with. If applicable, audited equilibrium sheet and earnings and penalty declaration along with the administrators and auditors announcement of the preceding three years has to be fulfilled. Self-certified document of the bank declaration and income tax recoveries is expected. Information detailing the company’s plan, generally for the next 3 years, along with the prediction of balance sheets, cash flow statement, and income statement.
Conclusion- Net owned Funds can be calculated from the last audited balance sheet of the firm. Paid-up holdings capital, unrestricted resources, share exceptional account balance, and the capital fund will include aggregate owned funds. To calculate, net owned funds, deduct revaluation reserves, the balance of accumulated loss, and the book value of intangible assets from total owned funds, if any investment in shares of other non-banking financial companies or debentures and shared of subsidized and group companies are more than ten percent of the owned funds will be subtracted from the net owned funds.