NBFC Registration with the Reserve Bank of India
Plan, apply and follow up your Non-Banking Financial Company registration with the RBI, step by step.
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NBFC registration is the process of obtaining a certificate of registration from the Reserve Bank of India to carry on the business of a Non-Banking Financial Company, such as lending, hire purchase or leasing. It is meant for promoters who want to run a financial company without a banking licence. The applicant must be a company incorporated under the Companies Act and must meet the minimum net owned funds set by the RBI. Our team helps with structuring, documents, the business plan and the online application. The RBI decides each application on its own assessment, and we cannot promise approval or a fixed date.
Who provides this service: our team of Company Secretaries and compliance specialists.
Who Needs NBFC Registration?
- Entrepreneurs who want to start a lending business such as personal, business or vehicle loans
- Companies planning hire purchase, leasing or equipment finance activity
- Fintech founders whose model involves lending from their own balance sheet
- Investment or finance groups restructuring an existing company into a regulated NBFC
- Promoters who want to know whether their capital and profile meet the RBI criteria before they invest
Key Benefits
- Clear advice on the right company structure and objects before the application is submitted.
- Review of net owned funds and source of capital against the RBI requirement for your proposed activity.
- A business plan written around your real model, rather than a template that raises questions.
- Help with the fit-and-proper information requested for directors and significant shareholders.
- Preparation and filing of the application on the RBI online portal, with documents arranged to match.
- Support in answering queries from the RBI, which are common during processing.
How It Works
Feasibility and activity mapping
We discuss the financial activity you plan, such as loans, leasing or investment, and map it to the right NBFC category. We also flag early whether your capital and promoter profile are likely to meet the RBI criteria.
Company incorporation or alignment
If the company does not yet exist, we incorporate it with objects suited to NBFC activity. An existing company may need changes to its objects, capital or directors before it can apply.
Net owned funds arrangement
We help you plan and document the net owned funds, including the auditor certificate and bank evidence of the capital. The RBI looks closely at the source of funds, so records must be clean and traceable.
Business plan and policies
We prepare a business plan with projections, and draft the basic policies the RBI expects to see, such as the fair practices code, KYC and anti-money-laundering policy, and board-approved operating policies.
Application on the RBI portal
Our team completes the online application, uploads the director, shareholder and company documents and submits the filing. We keep a checklist so that nothing stays outstanding after submission.
Query handling and certificate
We track the application, respond to clarifications requested by the RBI and help you meet any conditions. If the RBI grants registration, we guide you on first-year compliance obligations.
Documents Required
- Certificate of incorporation, memorandum and articles of association of the company
- PAN of the company and its directors
- Identity and address proof of directors and significant shareholders
- Auditor certificate and financial statements evidencing net owned funds
- Bank statements showing the source and deposit of capital
- Business plan with projections for the proposed activities
- Credit information reports and declarations on the background of directors
- Board resolution authorising the application
- Proof of registered office address
Timeline and Fees
Indicative timeline: Indicative range: preparation usually takes a few weeks, while RBI processing can take several months or longer; the timeline depends entirely on the RBI and on the clarifications it raises.
Professional fee: The fee depends on whether the company already exists, the proposed activity and category, the work needed to document net owned funds, the preparation of the business plan and policies and the number of RBI clarifications. Government charges and any auditor certification costs are shown separately.
What Can Go Wrong if This Is Missed or Done Incorrectly
- Carrying on NBFC business without the required RBI registration can attract regulatory action.
- An application with unclear source of funds or incomplete promoter details is likely to draw repeated queries.
- A business plan that does not match the actual activity can lead to rejection or restrictions.
- Failure to follow the conditions of registration after approval can put the certificate at risk.
Frequently Asked Questions
What is NBFC registration?
It is the process of getting a certificate of registration from the Reserve Bank of India so that a company can lawfully carry on financial business such as lending, leasing or hire purchase without being a bank. A company that carries on such activity as its principal business generally cannot start without this registration.
Who can apply for an NBFC licence?
The applicant must be a company incorporated under the Companies Act, with the minimum net owned funds required by the RBI for its category. Promoters and directors are assessed for integrity and track record. Proprietors, partnership firms and LLPs are not eligible to apply as NBFCs in the usual route.
How much capital is needed for an NBFC?
The RBI prescribes a minimum net owned fund for NBFCs, and the figure can differ by category and has been revised over time. We do not quote a number here because it must be confirmed against the latest RBI notification. During our review, we tell you the current requirement for your proposed activity.
How long does it take to get an NBFC licence?
The time depends on the RBI. It involves the completeness of your application, the quality of the business plan and promoter profile, and how many clarifications are raised. Applications with clean capital records and clear plans generally move with fewer queries. We cannot give a fixed date and will not promise one.
What are the layers under scale-based regulation?
The RBI classifies NBFCs into layers based on size and risk, such as base, middle, upper and top layers, with stricter rules as the layer rises. A new NBFC usually starts in the base layer. Your layer affects capital, governance and reporting obligations, so it matters when planning growth.
Can the RBI reject an NBFC application?
Yes. The RBI can refuse an application if it is not satisfied with the capital, the promoters, the business plan or the public interest aspects. Weak documentation, unclear source of funds and gaps in disclosure are common concerns. Careful preparation reduces avoidable rejections, but the decision remains with the RBI.
Official Sources
Rules, forms and fees change. Check the current position on the official portal:
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Last reviewed: . Laws, fees and procedures change; check the official portal before you act.
Disclaimer: The information on this page is for general informational purposes only and does not constitute professional legal, tax or compliance advice. Requirements vary by situation. Please consult a qualified CA or CS for advice specific to your needs. Government fees and timelines are subject to change; verify with the relevant authority before proceeding.