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Register Your Non-Banking Financial Company With RBI

A Non-Banking Financial Company (NBFC) is a company engaged in specified financial activities such as lending, investment, financing or other activities covered under the RBI framework.

RBI registration and company incorporation are two separate stages. We take you through business-model assessment, NBFC category selection, capital/NOF planning, RBI application and the full Certificate of Registration process.

RBI CoR Process

Capital / NOF Planning

Category Selection

Regulatory Documentation

Company Structure

Expert Assistance

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Overview

Company Registration Is Not NBFC Registration

An entity intending to undertake NBFC business generally needs a Certificate of Registration (CoR) from the RBI before commencing the regulated NBFC business. MCA company incorporation creates the legal company — RBI NBFC registration provides the regulatory authorisation to carry on the applicable NBFC business. The two are separate stages.

MCA incorporation vs RBI CoR

Incorporation Certificate ≠ RBI NBFC CoR. A new company cannot commence NBFC business until the required Certificate of Registration is granted.

Principal Business Criteria

RBI uses this test to determine whether a company is principally engaged in financial activity — financial assets over 50% of total assets and financial income over 50% of gross income are both relevant.

Category-Specific NOF

There is no single universal capital requirement — Net Owned Fund depends on the selected NBFC category, from ₹2 crore up to ₹300 crore.

Financial documents and regulatory paperwork

RBI RegulatedCertificate of Registration

What We Help You With

A complete NBFC registration process, end to end, subject to the applicable RBI framework.

Business Model Assessment

Understanding the proposed financial activity before choosing a regulatory route.

Company Structure

Reviewing ownership, management and constitutional documents for the proposed activity.

Capital / NOF Planning

Identifying the applicable Net Owned Fund requirement for the chosen category.

NBFC

RBI-Regulated
Financial Company

Regulatory Documentation

Business plan, policy framework and supporting information prepared for RBI.

Promoter & Director Due Diligence

KYC, declarations, shareholding and source-of-funds documentation.

RBI Application & CoR

Submission, clarifications and assistance through to Certificate of Registration.

The First Important Decision

Which NBFC Category Do You Need?

You should not simply apply for "NBFC Registration" without deciding what financial business the company intends to conduct.

Category	Focus	Current NOF
NBFC-ICC	Investment and/or lending (Type I / Type II)	₹2 crore / ₹10 crore
NBFC-MFI	Microfinance loans — at least 75% of assets in microfinance	₹10 crore
NBFC-Factor	Factoring of eligible receivables	₹10 crore
NBFC-P2P	Peer-to-peer lending platform	₹2 crore
NBFC-AA	Consent-based account aggregation	₹2 crore
NBFC-HFC	Housing finance	₹20 crore
NBFC-IFC	Infrastructure finance	₹300 crore
NBFC-IDF	Infrastructure debt fund / refinancing	₹300 crore

The category should be selected based on the actual proposed business, not merely the easiest registration route. RBI's current regulatory handbook lists the full set of categories and their defining conditions.

Clear Expectations

What NBFC Registration Does Not Guarantee

RBI registration provides regulatory authorisation for the applicable category. Meeting eligibility requirements does not mean every application is automatically approved, and registration itself is not a guarantee of business outcomes.

Bank loan or investor funding

Customer acquisition or profit

Government subsidy

Payment gateway approval

Automatic public deposit permission

Automatic approval of a loan app

What an NBFC Does

Activities Depend on the Category

An NBFC can undertake permitted financial activities according to its RBI registration.

Lending

Providing loans and advances under the applicable regulatory framework.

Investment

Certain NBFC categories can undertake permitted investment activities.

Microfinance

An NBFC-MFI specialises in microfinance activities under specific regulatory conditions.

Factoring

An NBFC-Factor principally conducts factoring business subject to applicable requirements.

Peer-to-Peer Lending

An NBFC-P2P operates a regulated peer-to-peer lending platform.

Account Aggregation

An NBFC-AA provides account aggregation services under its specialised framework.

The Registration Process

How NBFC Registration Works

From business-model assessment to a fully licensed, compliant NBFC.

Business Model & Category

Assess the proposed financial activity and map it to the applicable RBI NBFC category.

Company & Capital Planning

Review company structure, promoters/directors, and plan the required Net Owned Fund.

Business Plan & Policies

Prepare the business plan, financial projections and the applicable RBI policy framework.

RBI Application & CoR

Submit the RBI application, respond to clarifications, and commence business on receiving the CoR.

Documents & Information

What You Should Keep Ready

Promoter/director, company, financial and business documents — the exact list varies by NBFC category and whether the applicant is a new or existing company.

PAN & Identity Proof

Certificate of Incorporation, MOA & AOA

NOF Calculation & Capital Details

Audited Financial Statements

Business Plan & Financial Projections

Registered Office Proof

Promoters must be able to demonstrate the legitimate source of capital through the banking channel. RBI may examine the source and genuineness of funds before granting the Certificate of Registration.

Clear Distinction

NBFC vs Bank vs Nidhi Company

An NBFC is regulated under a distinct RBI framework, different from a bank or a Nidhi company.

Feature	NBFC	Bank	Nidhi Company
Governing framework	RBI Act / NBFC regulations	Banking Regulation Act	Companies Act + Nidhi Rules
Authorisation	RBI Certificate of Registration	Banking licence	MCA/Central Government framework
Customer base	Category-specific, can include the public	General public	Primarily members
Deposit-taking	Only where the applicable category permits	Core banking function	Member-based thrift/deposit model
Capital requirement	NOF varies by category	Banking capital norms	Separate Nidhi capital/member/NOF requirements
Supervision	RBI supervision for its category	RBI banking supervision	MCA/Central Government supervision

An NBFC should not market itself as a bank unless it actually holds the appropriate banking licence, and Nidhi is not automatically the correct answer for a company wanting to lend to the general public.

What You Receive

After Successful NBFC Registration

The exact deliverables depend on the selected NBFC category and service scope.

Certificate of Incorporation, MOA & AOA RBI Certificate of Registration (CoR) Regulatory Policies & Compliance Framework Business-Plan Documentation

Registration is only the beginning — RBI returns, financial statements, audit, KYC/AML, fair-practices and reserve-fund requirements continue to apply after the CoR is granted.

FAQs

Frequently Asked Questions

Clear answers before you register your NBFC.

No. Company incorporation and RBI NBFC registration are separate. A new company cannot commence NBFC business until the required Certificate of Registration is granted.

There is no single amount for every category. Current RBI NOF requirements vary — from ₹2 crore for some categories up to ₹300 crore for others such as NBFC-IFC and NBFC-IDF.

Only for categories where the applicable current NOF requirement is ₹2 crore, such as NBFC-ICC Type I, NBFC-P2P or NBFC-AA. It is not a universal NBFC requirement.

NOF is a regulatory capital measure calculated under the applicable RBI definition using qualifying capital/reserves and prescribed deductions — not simply the bank balance.

Only where the applicable regulatory framework permits it. Deposit-taking is separately regulated and should not be treated as an automatic feature of NBFC registration.

No. An NBFC operates under the RBI Act and applicable NBFC regulations, while a bank operates under the Banking Regulation Act and holds a separate banking licence.

Not as a shortcut to regulated lending. A technology platform or app does not replace the underlying regulated NBFC entity and the applicable RBI framework.

No. Meeting the eligibility requirements does not mean that every application is automatically approved by RBI.

Ready to Register Your NBFC?

Build a compliant financial business under the RBI regulatory framework.

Business Model → NBFC Category → NOF Planning → Company & Promoter Review → Business Plan → RBI Application → Clarification → RBI CoR → Ongoing Compliance

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