Explore the RBI approved NBFC list: A Comprehensive list to Non-Banking Financial Companies in India

RBI approved NBFC list, RBI approved NBFC, RBI NBFC list
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Before jumping to the RBI approved NBFC list, let us discuss what is NBFC and why a country like India needs NBFCs. NBFC full form in banking is Non-Banking Financial Companies. NBFCs play a crucial role in providing different financial services to individuals and businesses who are usually deprived of getting the required financial services from the banks.

Non-banking financial companies registered under the Companies Act, of 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities.

Difference Between NBFC and Bank

NBFCs are quite different from the traditional banks in terms of structure and operation. The major difference is that NBFCs do not have banking licenses to provide all the services of a traditional bank such as deposit-taking, lending, payment services, investment products, etc.

NBFCs are operated outside the operative area of traditional banks. NBFCs are not entitled to be a part of a payment system or payment settlement system and can not offer cheque facilities as of now. According to the RBI document, NBFCs cannot do the below.

  • NBFC cannot accept demand deposits;
  • NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;
  • The deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in the case of banks.

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RBI NBFC list categories

RBI NBFC list categorized based on the services they offer

  • NBFC ND: NBFC ND full form is “non-deposit taking Non-Banking Financial Company”. These non-banking financial companies do not receive any deposits from the customer. However, they can offer lending services to its clients. These NBFCs can also engage in investment in securities, asset financing, and providing financial guarantees to their customers.
  • NBFC NDSI full form is a non-deposit taking Systemically Important Non-Banking Financial Company. This is similar to the NBFC ND. However, non-deposit-taking NBFCs with an asset size of Rs. 500 Cr and more as per their audited balance sheet of the last financial year are considered systemically important NBFCs (NBFC NDSI). These NBFCs have to go through more stringent requirements than an NBFC-ND.
  • NBFC D: NBFC D full form is a deposit-taking NBFC. The NBFCs who are authorized to accept deposits from the public are under this category based on certain conditions and regulations imposed by the RBI.

Each category of NBFCs is further classified based on the banking activities. The broad classification is Asset Finance Company (AFC), Investment Company (IC), Loan Company (LC), Infrastructure Finance Company (IFC), Systemically Important Core Investment Company (CIC-ND-SI), Infrastructure Debt Fund: Non- Banking Financial Company (IDF-NBFC), Micro Finance Institution (NBFC-MFI), NBFC-Factors, Mortgage Guarantee Companies (MGC), NBFC- Non-Operative Financial Holding Company (NOFHC).

Please refer to the complete list of RBI registered NBFC

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RBI approved NBFC list

NBFC NameCategoryClassificationCorporate Identification Number
Bajaj Finance Ltd.NBFC-DICCL65910MH1987PLC042961
Shriram Finance Limited [Formerly: Shriram Transport Finance Company Limited]NBFC-DICCL65191TN1979PLC007874
Tata Sons Private Limited (Formerly Tata Sons Limited) CICNBFC-NDCICU99999MH1917PTC000478
Cholamandalam Investment and Finance Company Limited*NBFC-NDSIICCL65993TN1978PLC007576
L&T Finance LimitedNBFC-NDSIICCU65910WB1993FLC060810
Mahindra & Mahindra Financial Services LtdNBFC-DICCL65921MH1991PLC059642
Aditya Birla Finance LimitedNBFC-NDSIICCU65990GJ1991PLC064603
Tata Capital Financial Services Limited*NBFC-NDSIICCU67100MH2010PLC210201
HDB Financial Services LimitedNBFC-NDSIICCU65993GJ2007PLC051028
Muthoot Finance LimitedNBFC-NDSIICCL65910KL1997PLC011300
Indian Railway Finance Corporation LtdNBFC-NDSIIFCL65910DL1986GOI026363
REC LimitedNBFC-NDSIIFCL40101DL1969GOI005095
Power Finance Corporation Ltd.NBFC-NDSIIFCL65910DL1986GOI024862
Reliance Industries Holding Private LimitedNBFC-NDCICU51103MH2007PTC168016
India Infrastructure Finance Company LimitedNBFC-NDSIIFCU67190DL2006GOI144520
SREI Equipment Finance Limited(Formerly SREI Equipment Finance Private Limited)NBFC-NDSIICCU70101WB2006PLC109898
Gujarat State Financial Services Ltd.NBFC-NDSIICCU65910GJ1992SGC018602
Tamilnadu Power Finance and Infrastructure Development Corporation LimitedNBFC-DICCU65191TN1991SGC021030
Indian Renewable Energy Development Agency LimitedNBFC-NDSIICCU65100DL1987GOI027265
SBI Cards & Payment Services Ltd.NBFC-NDSIICCL65999DL1998PLC093849
Hero Fincorp LimitedNBFC-NDSIICCU74899DL1991PLC046774
Sundaram Finance LimitedNBFC-DICCL65191TN1954PLC002429
Vama Sundari Investments (Delhi) Private Limited.NBFC-NDCICU65923HR2008PTC046947
Micro Units Development & Refinance Agency LimitedNBFC-NDSIICCU65100MH2015PLC274695
SMFG India Credit Company Limited (Formerly known as Fullerton India Credit Company Limited)NBFC-NDSIICCU65191TN1994PLC079235
Kotak Mahindra Prime Ltd.NBFC-NDSIICCU67200MH1996PLC097730
ICICI Securities Primary Dealership Ltd.NBFC-NDSIPDU72900MH1993PLC131900
Piramal Enterprises LimitedNBFC-NDSIICCL24110MH1947PLC005719
Infrastructure Leasing and Financial Services Limited (CIC)NBFC-NDCICL65990MH1987PLC044571
Manappuram Finance LimitedNBFC-NDSIICCL65910KL1992PLC006623
IGH Holdings Pvt. Ltd.NBFC-NDSIICCU64200MH2000PTC129356
IL & FS Financial Services Ltd. ( Formerly IL&FS Finvest Ltd.)NBFC-NDSIICCU65990MH1995PLC093241
Hinduja Leyland Finance LimitedNBFC-NDSIICCU65993MH2008PLC384221
GMR Airports LimitedNBFC-NDCICU65999HR1992PLC101718
IIFL Finance LimitedNBFC-NDSIICCL67100MH1995PLC093797
Bharti Telecom LimitedNBFC-NDCICU32039HR1985PLC032091
Axis Finance Ltd.NBFC-NDSIICCU65921MH1995PLC212675
Muthoot Fincorp Limited (Formerly known as Muthoot Debt Management Services Ltd)NBFC-NDSIICCU65929KL1997PLC011518
TVS Credit Services LtdNBFC-NDSIICCU65920TN2008PLC069758
Creditaccess Grameen LimitedNBFC-NDSIMFIL51216KA1991PLC053425
PNB Gilts Ltd.NBFC-NDSIPDL74899DL1996PLC077120
Reliance Capital Ltd. ( Converted Into CIC Wef 31-08-2018)NBFC-NDCICL65910MH1986PLC165645
Tamilnadu Transport Development Finance Corporation LimitedNBFC-DICCU65191TN1975SGC006887
India Infradebt LimitedNBFC-NDSIIDFU65923MH2012PLC237365
NIIF Infrastructure Finance Limited (Formerly known as IDFC Infrastructure Finance Limited)NBFC-NDSIIDFU67190MH2014PLC253944
Poonawalla Fincorp LtdNBFC-NDSIICCL51504PN1978PLC209007
Goldman Sachs (India) Capital Markets Pvt LtdNBFC-NDSIPDU67190MH2009FTC198210
SBI DFHI Ltd. (Formerly Dicount & Finance House of India)NBFC-NDSIPDU65910MH1988PLC046447
HDFC Credila Financial Services LimitedNBFC-NDSIICCU67190MH2006PLC159411
Bajaj Holdings And Investment LimitedNBFC-NDSIICCL65100PN1945PLC004656

Complete NBFC Company List

There are approximately 9400 NBFC companies registered with RBI. I put a list of 50 RBI registered NBFC for your reference. For complete NBFC company list please visit this link of Google drive.

What is the importance of RBI Approved NBFC

  1. Regulatory Compliance: compliance is important for any financial institution to operate in a country. That brings confidence in the financial system and among the citizens of the country. RBI Approved NBFC are required to comply with the regulatory framework set up by the Reserve Bank of India and submit periodic reports to the RBI.
  2. Risk Management: RBI continuously monitors the NBFC companies. Any risk including credit risk, liquidity risk, and operational risk can be easily avoided in such cases where RBI has approved NBFCs. RBI Approved NBFC are expected to have robust risk management systems in place to identify, assess, and mitigate the risks effectively.
  3. Customer Protection: RBI Approved NBFC are obligated to safeguard the interests of their customers including providing clear information about their products and services, addressing customer grievances promptly, and adhering to ethical business practices.
  4. Financial Inclusion of Mass: NBFCs play a crucial role in promoting financial services to underserved and unbanked populations in the country. The government promotes RBI Approved NBFCs to reach out to marginalized communities to fulfill the objectives of financial inclusion.

Final words on RBI approved NBFC

RBI Approved NBFC play a significant role in India’s financial system. The reach of these NBFCs is towards the weaker section of the society which traditional banks may not be able to reach. Hence, these NBFCs are contributing significantly to the overall development of the economy.

To avoid any fraudulent activity from unauthorized financial institutions such as chit funds, local money lenders, etc. it is important to understand if the NBFC is RBI approved NBFC or not. You can get the registration number from the concerned NBFC and search the same from the RBI Approved NBFC list in the above table. Each NBFC needs to adhere to the regulatory guidelines of the regulatory authority RBI. It is also important for every customer to be aware of fraud in financial institutions by checking for RBI approved NBFCs.

Frequently Asked Questions on RBI Registered NBFC

Who controls NBFC?

As per the RBI Act 1934, the Reserve Bank of India (RBI) controls and regulates the Non-Banking Financial Companies in India.

Is NBFC a private company?

Yes, NBFCs are private companies that operate in the financial system of the country. However, each NBFC has to fulfill certain criteria to get an NBFC license. The NBFC company can later be listed as a public company.

Is Muthoot Finance a NBFC?

Yes, Muthoot Finance is an RBI approved NBFC. The company is promoted by the Muthoot Pappachan Group. The company’s equity shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

Is Paytm an NBFC?

Paytm is a fintech company. However, its subsidiary Paytm Payments Bank Limited (PPBL) is a NBFC. Paytm resumed its lending activities in partnership with existing allies—SMFG India Credit and Shriram Finance. The company is also in talks with Muthoot Finance for both personal and merchant loans.

NBFC full form in Banking

NBFC full form in banking is Non banking financial companies. These companies regulated by RBI and hence, NBFCs are registered with RBI.

NBFC ND full form

The NBFC ND full form is Non-banking financial companies non-deposit. These are basically non-deposit non-banking financial companies.

NBFC D full form

The NBFC D full form is Deposit taking Non-banking financial companies. These companies accepts deposit from public.

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