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Definition of Non- Banking Finance Company

*Non-banking finance company means an NBFC as defined in the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003.

A non-banking finance company is defined as a company that is licensed by the Commission to engage in one or more forms of business in terms of rule 5 provided that its memorandum and articles of association permits it to do so, and includes asset management company, discount house, housing finance company, investment adviser, investment finance company, leasing company, venture capital company and such other company or body corporate as the Federal Government may, by notification in the Official Gazette, specify for the purpose;



*The above clause substituted by the Finance Act, 2008. The substituted clause read as follows:
“non-banking finance company”means an institution notified under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003”.