NBFC Registration Procedure & Checklist

Any entity desirous of commencing the business of and being registered as NBFC shall apply to RBI for the license (CoR) and must also fulfill the following norms:

  • It should be a company incorporated under Companies Act, 2013.
  • It should be a company having minimum net owned funds of INR 2 crores.

Where to Make Application?

  • The online application is available on RBI's website (COSMOS).
  • Hard copy of the application along with attached documents shall be submitted to regional RBI Office.
  • The license will be granted only after vigilant inspection of the application and documents attached with it.

Checklist for NBFC Registration:

  • Certified copy of Certificate of Incorporation issued by the registrar of companies.
  • Extract of the main object clause in the MOA clearly depicting the financial business.
  • The Audited balance sheet and Profit & Loss account along with directors & auditors report for the entire period of company's existence, or for last three years, whichever is less.
  • Copy of the certificate of Director's highest educational and professional qualification.
  • Copy of Director's experience certificate in the Financial Services Sector (including Banking Sector).
  • Bankers report depicting details of deposits and loans balances as on the date of application and the conduct of the account.

RBI Compliance Group
Ozg Compliance & Regulatory Practice Center