Section 45-IA: Requirement of registration and net owned fund

No non-banking financial company shall commence or carry on the business of a non-banking financial institution without-
1. obtaining a certificate of registration issued under this Chapter; and
2. having the net owned fund of twenty-five lakh rupees or such other amount, not exceeding two hundred lakh rupees, as the Reserve Bank may, by notification, specify.
Every non-banking financial company in existence on the commencement of the Reserve Bank of India (Amendment) Act, 1997 shall apply for registration to the Bank before the expiry of six months from such commencement.

No non-banking financial company shall commence or carry on the business of a non-banking financial institution without-
1. obtaining a certificate of registration issued under this Chapter; and
2. having the net owned fund of twenty-five lakh rupees or such other amount, not exceeding two hundred lakh rupees, as the Reserve Bank may, by notification, specify.
Every non-banking financial company in existence on the commencement of the Reserve Bank of India (Amendment) Act, 1997 shall apply for registration to the Bank before the expiry of six months from such commencement.

No non-banking financial company shall commence or carry on the business of a non-banking financial institution without-
1. obtaining a certificate of registration issued under this Chapter; and
2. having the net owned fund of twenty-five lakh rupees or such other amount, not exceeding two hundred lakh rupees, as the Reserve Bank may, by notification, specify.
Every non-banking financial company in existence on the commencement of the Reserve Bank of India (Amendment) Act, 1997 shall apply for registration to the Bank before the expiry of six months from such commencement.

No non-banking financial company shall commence or carry on the business of a non-banking financial institution without-
1. obtaining a certificate of registration issued under this Chapter; and
2. having the net owned fund of twenty-five lakh rupees or such other amount, not exceeding two hundred lakh rupees, as the Reserve Bank may, by notification, specify.
Every non-banking financial company in existence on the commencement of the Reserve Bank of India (Amendment) Act, 1997 shall apply for registration to the Bank before the expiry of six months from such commencement.