In India, a Non-Banking Financial Company (NBFC) is formed under the Companies Act. It is in the business of giving out loans and advances to the general population. The government or local governments may sell shares, stocks, bonds, debentures, and other securities to an NBFC. It can work in the hire-purchase, leasing, insurance, and chit-fund industries. Agriculture, industrial activity, the purchase or sale of any items (except securities), the provision of any services, or the sale/purchase/construction of immovable property are all prohibited. We at Legalpillers will help in getting rbi registered nbfc.