In India, there was liberalization since 1991 with markets opening to various banking and financial sectors. With this development, there was an influx of banking institutions that offered services to the public. NBFCs came into light with the view of offering various banking and microfinance services for the development of the economy. NBFC's contribute to the development of rural areas by providing various microfinance activities. These activities will add on to the development of the Indian economy. However, NBFC's have to be vigilant went it comes to auditing and compliance monitoring requirements. These are prone to various scandals and misuse of public funds. Fintechasia NBFC Audit service has started to suite the compliance requirements of an NBFC.
There are different types of NBFC in India. Some of the NBFCs are:
So there are different compliances and audit requirements for the above companies. For example- a loan company (LC) or an investment company (IC) should have financial assets and income above 50% of the total assets and total income. Similarly, in the case of an Infrastructure company, a minimum of 75% of total assets should be deployed in infrastructural loans, and finance income should be more than 50% of the total income.
Therefore the audit and regulatory compliance requirements for various NBFC’s are different.
Our service will cover the following aspects:
Fintechasia considers your best interests; therefore, NBFC audit service is crucial for all businesses that want to have the company of NBFC.
Fintechasia service would help you ensure that your investment in an NBFC business is fruitful for your business needs. By taking this service, you would not get into any legal issues or notices from any statutory authority for any form of non-compliance with the services. Apart from this, the service will provide you with updates on any changes in the law and how to comply with it
By taking this service, your business can concentrate on the main activities of NBFC- microfinance activities and other activities which help in the development of the economy. Your business will not have to spend unnecessary time on different types of audit for NBFC.
Right from NBFC consultation to Auditing Services, Fintechasia is a one stop shop for all your professional needs. They were very courteous and professional in their approach. We would definitely recommend their service to anyone seeking professional help
Fintechasia has provided me exceptional service when I consulted them for my NBFC business. From initial consultation to registering my NBFC business they were proficient and expert in their advice. I would highly recommend them for NBFC services.