Meeracorp Private Limited
East of Kailash, New Delhi, Delhi
GST No. 07AAKCM5450F2ZF
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Product Details:
| Type of Service | New company registration |
| Type of Ownership | Cooperative |
| Company Type | Industrial |
| Number of Employees | >50 |
| Type of Registration File | E-Filing |
Micro Finance Institution (MFI) is a non-deposit taking NBFC (other Than a company licensed under section 8 of the Companies Act. 2013)
NBFC performs banking at small level as a bank does. MFI Exist at very small level than NBFC.
MFI stands for Micro Finance Institutions are providing similar lending services as NBFC to the poor and weak sections of the society who do not have access to regular banking facilities. MFI Provides small loan amount Rs. 10,000 to 20,000 to start a business.
India is world No.2 fastest growing economy with a large population. Government banks and private sector banks can not open their branch in every village. Though, Indian banks have increased their presence but still have limited reach in remote areas. Micro fiancé institutions (MFI) mainly working in villages / remote area to empower farmers and small business in villages.
NBFC is to be registered NBFC-MFI the minimum paid-up capital should be not less than Rs. 5 crores. If an NBFC-MFI registered in North-east region of the India the minimum paid capital requirement is only Rs. 2 Crore. NBFC-MFI has to maintain 85% as Qualifying assets all the time..
Product Details:
| Mode of Service | Online |
| Number of Employees | >50 |
| Type of Service Provider | Research Company, Individual Consultant |
| Type of Registration File | E-Filing |
| Registered Period | >1 Year |
Product Details:
| International Cards to be accepted | Yes |
| Mobile Support | Yes |
| Requirement for International Transactions | Yes |
| Payment Methods Available | Netbanking, Credit Card, Debit Card, E-Wallet |
| Website Security Protocol | HTTPS |
Prepaid Payment Instruments, also known as PPIs, are the payment instruments which facilitates the goods and services transactions conducted by the consumer, including financial services, remittance facilities etc., against the value stored on such instruments. The PPIs have emerged as a smart and convenient method of initiating cashless transaction in the recent times where the country has experienced a whole lot of cash crunch. It is an effective way of payment carried out it transparency, scalability and accountability.
Product Details:
| Type of Service | New company registration |
| Type of Ownership | Limited Liability Company |
| Company Type | Apparels, Industrial, Electronic, Services |
A Non-Banking Financial Company (NBFC) provides banking and other lending services without meeting the legal definition of a bank. It is Incorporated under Companies Act, 2013 or Companies Act, 1956 (Old). Every NBFC has to obtain Commencement of business certificate from RBI as defined under Section 45 I(a) of the RBI Act. NBFC shall not commence or carry on the business of Non- Banking Financial Institution without obtaining a Certificate of Registration issued by the Reserve Bank of India. NBFC registration or NBFC License can be obtained in 90-120 days.
The principal business of NBFC is providing loans and advances, acquisition of shares, debentures and other stocks issued by Government or other local authorities, insurance business, leasing, hire-purchase, etc. Moreover, any other non-banking institution, incorporated as a company under the Companies Act and having the principal business of receiving deposits under any scheme or arrangement in one lump sum or installment, is also a non-banking financial company (NBFC).
In general, NBFC is filling up the gap of financial needs for the organized and unorganized section of the population. In the recent times, banks have targeted big commercial houses and individuals with excellent credit rating as their prime customers; This provided NBFCs with an opportunity to enlarge its presence in the financial market.
What are the Types of NBFC in India? By nature of the activity, they undertake, NBFCs can be categorized into the following:Additional Information:
Product Details:
| Financial Services | Post Office saving schemes, Forex Services, Postal Life Insurance, Mutual Funds, Money Remittance Services |
| Segments | Cards |
Small finance bank shall be registered as a public limited company under the Companies Act, 2013 and will be licensed under Section 22 of the Banking Regulation Act, 1949 and governed by the provisions of the Banking Regulation Act, 1949 and Reserve Bank of India Act, 1934 and with other relevant Statutes and the Directives/Regulations and other Guidelines/Instructions issued by RBI and other regulators from time to time.
Reserve Bank of India wants to serve rural & semi-urban areas such as small businesses, unorganized sector, low-income households, farmers and migrant workforce through Small Finance Banks.
Small finance banks are a type of niche banks. These type of banks carrying small finance bank license provides basic banking services related to acceptance of deposits and lending. Their main aim is to provide financial services to those sections of the economy which are not being served by the other banks, such as small business units, small and marginal farmers, micro and small industries and entities of the unorganized sector.
Small Finance Banks make money by collecting money from current account & saving account depositors, fixed depositors, commercial papers, Wholesale deposits, refinancing etc. On saving account they offer interest rates between 6 to 7 % subject to conditions. On fixed deposit around 9%, interest is offered. SFBs offers two types of products such as group loans & individual loans. These products can be further divided into agricultural, education, home improvement, home purchase, livestock loans etc.
SFBs do not get a guarantee against the loan offered. In the group loans, they are offered on the joint liability. In case any member of the group does not pay than the whole group is held liable for the same.
Small Finance Banks require prior approval for the opening of bank branches from RBI. Universal banks do not require such permission for roll out a branch in the unbanked rural areas.
Small Finance Banks required to extend 75% of their Adjusted Net Bank Credit (ANBC) to the classified sectors under priority sector lending (PSL) by the RBI. Agriculture, Small scale industries, Small business/ service enterprise, Microcredit, Education loans.
What is OBJECTIVE of Small finance bank?Additional Information:
