NBFC Registration

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Typical timeline: 90–120 business days (RBI approval)

Key Benefits

Legal authorization to carry on financial activities (lending, leasing, investment)

Can accept public deposits if approved as Deposit-taking NBFC

Access to RBI refinancing and priority sector lending benefits

Eligible to raise funds from banks and capital markets

Can operate across India without state-level licensing

Build a scalable financial services business under RBI framework

Eligibility & Requirements

Must be incorporated as a company under Companies Act
Minimum Net Owned Funds (NOF): ₹10 crore
Majority of assets and income must be financial in nature
RBI registration under Clause 45-IA of RBI Act
Qualified management team with financial background

Documents Required

Certificate of Incorporation

MOA/AOA showing financial activities as objects

Audited financial statements (3 years if existing)

Business plan with financial projections

Director profiles and educational certificates

Bank statement showing minimum NOF

Frequently Asked Questions

What is the difference between a Bank and an NBFC?

NBFCs cannot accept demand deposits (savings/current accounts). They are not part of the payment/settlement system and cannot issue cheques. However, they can do most lending activities. NBFCs are regulated by RBI under the RBI Act, 1934.

What are the different types of NBFCs?

Types include: NBFC-ICC (Investment & Credit Company — most common), NBFC-MFI (Microfinance), NBFC-Factor, Infrastructure Finance Company, Mortgage Guarantee Company, NBFC-P2P, and Account Aggregator. Each has specific capital requirements and RBI guidelines.