NBFC & MFI in India NBFC & MFI in India A Non Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business but does not include any institution whose principal business includes agriculture, industrial activity or the sale, purchase or construction of immovable property. The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934 (Chapter III-B) and the directions issued by it. On November 9,
RBI Thiruvananthapuram operating since 1997. The Issue Department of RBI Thiruvananthapuram looks after the currency requirement of 229 currency chests and 226 small coin depots in the state of Kerala and UT of Lakshadweep. The Urban Banks Department (UBD) supervises 60 Urban Cooperative Banks. The Rural Planning and Credit Department (RPCD) has jurisdiction over more than 1,600 Primary Agricultural Credit Societies, besides two Regional Rural Banks and 14 central cooperative banks, and the Department of Banking Supervision (DBS) conducts the supervision and monitoring of approximately 2500 branches of public sector banks and more than 1400 branches of private sector banks, besides five