Section 45I(f) in The Reserve Bank of India Act, 1934
(f)“non-banking financial company” means—(i)a financial institution which is a company;(ii)a non-banking institution which is a company and which has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner, or lending in any manner;(iii)such other non-banking institution or class of such institutions, as the Bank may, with the previous approval of the Central Government and by notification in the Official Gazette, specify.
