NBFC registration is the formal approval granted by the Reserve Bank of India, allowing a company to operate as a non-banking financial institution. It is crucial for ensuring legal compliance, gaining customer trust, and offering a wide range of financial services outside traditional banking.
Conclusion
NBFC registration is essential for companies seeking to offer financial services outside traditional banking. It ensures regulatory compliance, builds trust with customers, and opens doors to operate legally within the financial sector, contributing to broader financial inclusion and economic growth.