Handbook of Non-Banking Financial Companies

This edition of the Handbook of Non-Banking Financial Companies, 2nd Edition, 2026 by Dr. Rajeev Babel, serves as a comprehensive and authoritative reference on the regulatory, legal, and operational framework governing Non-Banking Financial Companies (NBFCs) in India. Designed for professionals, students, regulators, and financial sector practitioners, the book provides a detailed and structured examination of the laws, rules, and regulatory mechanisms that shape the functioning of NBFCs within the Indian financial system.

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.

This edition is particularly valuable for:

• Legal professionals and litigators dealing with financial regulation and NBFC compliance
• Chartered accountants, company secretaries, and compliance officers in financial institutions
• Banking and financial sector professionals working with NBFCs and allied entities
• Academicians and students studying financial regulation and corporate law
• Policymakers and regulatory professionals seeking a structured reference on NBFC governance and supervision

By consolidating statutory provisions, regulatory directions, and compliance frameworks in a single volume, this updated 2026 edition provides a clear and reliable guide to the legal and regulatory ecosystem governing Non-Banking Financial Companies in India, making it an essential reference for both professional practice and academic study.