I’m replying as a result of this is a vital query and many individuals have an interest on this. The quick reply is if you’re doing any type of enterprise exercise which entails “earning money from cash”, like lending, investing, buying-selling of shares comes within the purview of NBFC. Even if you’re doing it with your individual cash and never taking public cash to do it (investing/buying and selling), you’ll nonetheless must register as NBFC with RBI which isn’t a straightforward course of. You will need to have principal enterprise exercise as above and minimal capital funding of two crores.
That is what I’ve discovered by way of RBI web site and different on-line sources. Could also be a greater discovered CA may also help you extra.