Financial Companies NOT requiring NBFC License

The following types of entities that are involved in the Primary Company of financial Action do NOT Need NBFC Registration License:

• Housing Finance Companies – Regulated by the National Housing Bank;

• Insurance Companies – Regulated by the Insurance Regulatory and Development Authority of India (IRDA);

• Stock Broking – Regulated by Securities and Exchange Board of India;

• Merchant Banking Companies – Regulated by the Securities and Exchange Board of India;

• Venture Capital Companies – Regulated by the Securities and Exchange Board of India;

• Companies that run Collective Investment Schemes – Regulated by the Securities and Exchange Board of India;

• Mutual Funds – Regulated by Securities and Exchange Board of India;

• Nidhi Companies – Regulated by the Ministry of Corporate Affairs (MCA);

Chit Fund Companies – Regulated by the respective State Governments.