Handbook of Non-Banking Financial Companies By Dr. Rajeev Babel

Handbook of Non-Banking Financial Companies By Dr. Rajeev Babel

The book is systematically divided into 10 Parts comprising 74 Chapters, offering an in-depth understanding of the evolution, incorporation, governance, regulation, and compliance requirements applicable to NBFCs. It explores the legal provisions under the Companies Act, 2013, the Reserve Bank of India Act, 1934, and other applicable regulatory frameworks, ensuring readers gain a complete and practical understanding of the sector.

The content includes comprehensive coverage of the following areas:

• Introduction, meaning, evolution, and development of NBFCs, including their role in the financial system and institutions that cannot accept public deposits
• Incorporation of NBFCs under the Companies Act, 2013, including the process of setting up and structuring NBFC entities
• Provisions relating to the Board of Directors, appointment of directors, and governance requirements under the Companies Act, 2013
• Removal of directors, supersession of boards, and corporate governance issues under the powers granted to the RBI under the RBI Act, 1934
• Regulatory authorities governing NBFCs and related institutions, including RBI, SEBI, MCA, IRDAI, and State Governments
• Registration procedures, compliance requirements, and audit provisions for NBFCs under Chapter IIIB of the RBI Act, 1934
• Detailed discussion of Master Directions issued by the Department of Regulation, RBI for NBFCs
• Master Directions issued by the Department of Regulation for Asset Reconstruction Companies (ARCs)
• Master Directions issued by the Department of Supervision, RBI for NBFCs
• Additional regulatory frameworks, including the Integrated Ombudsman Scheme, 2026 and Indian Accounting Standards applicable to NBFCs and ARCs

The handbook also addresses regulatory provisions applicable to NBFCs operating in specialized financial activities such as merchant banking companies, alternative investment funds, stock broking companies, collective investment schemes, Nidhi companies, and mutual benefit companies, along with NBFCs regulated by state governments under relevant legislation.

About the Author

Dr. Rajeev Babel – Company Secretary, Insolvency Professional & Certified Independent Director. The author is a Fellow Member of the Institute of Company Secretaries of India, New Delhi and an Associate Member of the Indian Institute of Banking and Finance, Mumbai. He is a Certified Independent Director of the Indian Institute of Corporate Affairs, New Delhi and is enrolled as an Insolvency Professional with the Insolvency and Bankruptcy Board of India, New Delhi. He had privileged of working for 30 years in the banking domain in managerial capacity with the erstwhile Bank of Rajasthan Ltd. and ICICI Bank Ltd. Having interest in academic field, he appeared as visiting faculty with various Professional & Management Institutes.