Expert assistance for RBI NBFC registration applications
NBFC Registration Assistance in India
Get Expert Assistance for RBI NBFC Registration Application Preparation and Filing Support - Professional charges from ₹49,999
Listed amounts are IncorpX professional charges for end-to-end assistance. Government / statutory fees are charged separately at actuals.
NBFC-ICC application assistance
NBFC-MFI application assistance
NBFC-P2P application assistance
NBFC-Factor application assistance
RBI online filing support
Post-registration compliance guidance
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Get Expert Assistance for RBI NBFC Registration?
Documentation, application preparation, filing support, and RBI follow-up for eligible NBFC applicants
Simple Process
Here's How It Works
01
Fill the Form
Simply fill the above form to get started.
02
Call to discuss
Our team will connect with you and explain the next compliance steps.
03
Understand the NBFC registration process
IncorpX assists with category review, documentation, filing support, and query responses throughout the RBI process.
Pricing
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MOST POPULAR
NBFC Registration Assistance Package
From ₹49999 IncorpX professional fee for assistance
Timeline depends on the application type and authority review
Application support Professional assistance
NBFC category assessment
Company incorporation support (if needed)
Capital structure planning
Business plan preparation
RBI application drafting
Document compilation
RBI online portal filing support
RBI query response assistance
Certificate of Registration follow-up support
Post-registration guidance
*Listed amounts are IncorpX professional charges for end-to-end assistance. Government / statutory fees are charged separately at actuals.
4.9/5 based on 1000+ reviews
Transparent scope
Secure payment
Application support
Listed amounts are IncorpX professional charges for end-to-end assistance. Government / statutory fees are charged separately at actuals.
AI-Powered Platform
Meet IncorpX Nova
Our proprietary AI engine supports each stage of business setup, from name suggestion checks to document drafting and compliance tracking.
AI-Powered Business Name Approval Check
Auto-Generated MoA & AoA Drafts
Real-Time Compliance Monitoring
Faster Processing With AI Automation
24/7 AI Chatbot + Human Expert Support
NOVA AI
Premium Plan
IncorpX Prime
A comprehensive package for startups and expanding enterprises seeking a compliant incorporation process.
Key Benefits
Personalised support from dedicated incorporation specialists.
Application prepared and filed within 2 days.
24/7 customer assistance.
Important Notes
We strive to help secure approval for your preferred business name whenever feasible.
Alternative name suggestions are provided if the preferred name is not approved.
Package includes first-year compliance services: auditor appointment, annual filings, and related obligations.
A Non-Banking Financial Company (NBFC) is a company incorporated under the Companies Act and engaged in financial activity as its principal business, such as loans and advances, acquisition of securities, leasing, or hire-purchase. RBI's principal business test generally looks at whether financial assets exceed 50% of total assets and income from financial assets exceeds 50% of gross income.
Under Section 45-IA of the RBI Act, 1934, no eligible company can commence or carry on NBFC business without obtaining a Certificate of Registration (CoR) from the Reserve Bank of India. The CoR is issued by RBI, while IncorpX provides assistance with preparation, documentation, and filing support.
For new applicants, the minimum Net Owned Fund (NOF) is generally ₹10 crore for NBFC-ICC, NBFC-MFI, and NBFC-Factor, while NBFC-P2P and NBFC-AA have a lower threshold of ₹2 crore. Applications are currently filed through the RBI online application portal (PRAVAAH on rbi.org.in), and the process typically takes 3-6 months because RBI does not publish a fixed approval timeline.
IncorpX provides end-to-end assistance for NBFC registration, including category review, company structuring support, document preparation, application drafting, and responses to RBI queries. The final decision on registration remains with RBI.
What is NBFC Registration?
NBFC registration is the process of obtaining a Certificate of Registration (CoR) from the Reserve Bank of India so an eligible company can commence NBFC business. The Certificate of Registration is issued by RBI after it reviews the applicant's category, capital position, governance, documents, and business plan.
Key aspects of NBFC Registration:
Mandatory Requirement: No company can carry on NBFC business without RBI registration.
Principal Business Criteria: Financial activity must be the principal business (assets > 50% and income > 50%).
Capital Requirement: Minimum NOF of ₹10 crore for most categories.
Regulatory Oversight: Registered NBFCs are subject to RBI's prudential norms and supervision.
Payment System: NBFCs are not part of the payment and settlement system.
Deposit Insurance: NBFC deposits are not covered by DICGC insurance.
CRR/SLR: NBFCs are not required to maintain CRR and SLR.
Important RBI Requirement!
Operating as an NBFC without RBI registration can attract action under the RBI Act, 1934. Under Section 46, the penalty for certain contraventions can extend up to ₹10 crore, and continuing contraventions can attract additional daily fines.
Types of NBFCs Based on Activity:
RBI has classified NBFCs into various categories based on their principal business activity:
NBFC-ICC (Investment and Credit Company): The most common type, engaged in lending (asset finance, loan against securities) and investment activities. Minimum NOF: ₹10 crore.
NBFC-MFI (Micro Finance Institution): Provides microfinance to eligible low-income households. At least 75% of total assets must be microfinance loans as defined by RBI. Minimum NOF: ₹10 crore.
NBFC-Factor: Engaged in factoring business - purchasing receivables. At least 50% of assets and income from factoring. Minimum NOF: ₹10 crore.
NBFC-P2P (Peer to Peer Lending Platform): Provides an online marketplace for lenders and borrowers. Cannot provide credit enhancement. Minimum NOF: ₹2 crore.
NBFC-AA (Account Aggregator): Provides consent-based financial data sharing services under AA framework. Minimum NOF: ₹2 crore.
What Are the Key Features of Our Assistance for NBFC Registration?
IncorpX supports applicants through the RBI process with documentation-focused and compliance-oriented assistance:
1. Category Assessment
We help identify the NBFC category that best fits the proposed business model and activity mix.
2. Company Setup Support
Where needed, we assist with company structuring, objects clause review, and capital planning for the application.
3. Business Plan Drafting
We assist with drafting a business plan and supporting notes aligned to RBI's review expectations.
4. Capital Planning
Guidance is provided on NOF calculation, capital infusion records, and source-of-funds documentation.
5. RBI Application Support
We assist with preparing the filing set for submission through the RBI online application portal.
6. Director Documentation
Assistance is provided with fit and proper declarations, background disclosures, and supporting papers.
7. Query Response Support
We assist with drafting RBI clarification responses and compiling the additional documents requested.
8. Policy Framework
We help prepare policy documents such as KYC / AML, Fair Practices Code, and related governance records.
9. CoR Follow-Up
Support continues through the review cycle until RBI communicates its decision on the application.
10. Post-Registration Guidance
After approval, we assist with understanding the applicable compliance and reporting framework.
Benefits of NBFC Registration:
Registering as an NBFC opens up significant business opportunities. Here are the key benefits:
Legal Lending Business
Operate a legitimate lending business with RBI approval and regulatory backing.
Access to Funding
Raise funds from banks, FIs, and capital markets. Issue NCDs and commercial paper.
Credibility
RBI registration provides credibility and trust with borrowers, investors, and partners.
Regulatory Framework
Operate within a clear regulatory framework with defined guidelines and protections.
Business Scalability
Scale your lending business across India with proper licensing and infrastructure.
Priority Sector Lending
NBFCs can lend to priority sectors and underserved segments with government support.
Assistance with documentation, filing support, and RBI follow-up.
NBFC Categories - Capital & Requirements Comparison:
Different NBFC categories have different requirements. Here's a comprehensive comparison:
NBFC Category
Minimum NOF
Principal Business
Special Requirements
NBFC-ICC
₹10 crore
Lending & Investment
General lending, most flexible
NBFC-MFI
₹10 crore
Microfinance Lending
At least 75% of total assets in microfinance loans
NBFC-P2P
₹2 crore
Online P2P Platform
Cannot lend own funds, escrow required
NBFC-AA
₹2 crore
Data Aggregation
Cannot store data, consent-based only
NBFC-Factor
₹10 crore
Factoring Business
50% from factoring, TReDS participation
HFC
₹20 crore
Housing Finance
Housing finance company norms under RBI directions
Eligibility Criteria for NBFC Registration:
Company registered under Companies Act, 2013
Minimum Net Owned Fund as per category
Objects clause permitting NBFC activities
Directors meeting fit and proper criteria
Clean CIBIL record of promoters/directors
Legitimate source of capital funds
Adequate infrastructure and IT systems
Viable business plan
Complete Document Checklist for NBFC Registration:
Proper documentation is critical for RBI approval. Here's the comprehensive checklist:
Category
Documents Required
Purpose
Company Documents
COI, MOA, AOA, PAN, Board Resolution
Company identity and authority
Director Documents
PAN, Aadhaar, credit report, declarations, net worth statement
Fit and proper compliance
Capital Documents
NOF support records, bank statements, and source-of-funds documents
Capital adequacy proof
Business Documents
Business Plan, Revenue Projections, Product Structure
Viability assessment
Infrastructure
Office Proof, IT Infrastructure Details
Operational capability
Policies
FPC, KYC Policy, IT Policy, Outsourcing Policy
Regulatory compliance
NBFC Registration Process - Step by Step:
The process usually involves preparation, filing, RBI review, and follow-up responses. IncorpX assists at each stage while RBI remains the issuing authority:
Step 1: Initial assessment
Review the proposed business model and identify the appropriate NBFC category, such as ICC, MFI, P2P, Factor, or AA.
Step 2: Company structuring
Incorporate or align the company structure, objects clause, governance framework, and capital plan for the intended NBFC activity.
Step 3: NOF preparation
Bring in the required NOF and compile bank records and source-of-funds documents that support the application.
Step 4: Documentation
Prepare the business plan, declarations, policy documents, and supporting records for the RBI filing.
Step 5: RBI online filing
Submit the application through the RBI online application portal (PRAVAAH on rbi.org.in) with the required annexures and declarations.
Step 6: RBI review and clarifications
RBI may seek clarifications or additional documents. IncorpX assists with drafting and compiling the responses.
Step 7: Certificate of Registration
If RBI approves the application, it issues the Certificate of Registration. After approval, the compliance setup is aligned to the applicable RBI directions.
Guidance on documentation, filing support, and RBI follow-up.
Post-Registration Compliance for NBFCs:
Once registered, NBFCs must maintain the compliance framework applicable to their category, deposit status, and regulatory layer. Typical areas include:
Compliance Area
Frequency
Practical Note
RBI returns
Monthly / quarterly / annual, as applicable
The exact return set depends on the NBFC category and scale.
Statutory financial statements and audit
Annual
Companies Act and RBI-linked reporting requirements continue after registration.
Capital and prudential norms
Continuous
CRAR and related norms apply as per the relevant RBI directions for the category.
KYC / AML and customer policies
Continuous
Policies should remain updated and implemented in day-to-day operations.
Fair Practices Code and grievance handling
Continuous
Lending-related NBFCs must follow the applicable customer-facing conduct framework.
Board oversight and internal controls
Periodic
Governance, outsourcing, IT, and risk controls should align with the business model.
Why Choose IncorpX for NBFC Registration?
Proven track record in regulatory documentation and filing support.
Proactive application review to reduce avoidable gaps before filing.
Experienced team for category review, documentation, and compliance support.
Structured assistance from company setup support to RBI follow-up.
Query-response assistance during RBI's clarification cycle.
Post-registration guidance on the applicable compliance framework.
FAQs on NBFC Registration
These FAQs explain the RBI process, category-wise capital requirements, timelines, and the scope of IncorpX's assistance for NBFC registration.
They are intended to help you understand what RBI reviews before issuing a Certificate of Registration.
NBFC (Non-Banking Financial Company) is a company registered under the Companies Act, 2013 or the earlier Companies Act, 1956 and engaged in financial activity as its principal business, such as loans and advances, acquisition of securities, leasing, or hire-purchase. Under Section 45-IA of the RBI Act, 1934, eligible companies must obtain an RBI Certificate of Registration before commencing NBFC business.
As stated in RBI's NBFC FAQs updated on April 29, 2026, the minimum NOF depends on the category:
NBFC-ICC: ₹10 crore
NBFC-MFI: ₹10 crore
NBFC-Factor: ₹10 crore
NBFC-P2P: ₹2 crore
NBFC-AA: ₹2 crore
HFC: ₹20 crore
NBFC registration typically takes 3-6 months when the application is complete and RBI's clarification cycle is smooth. RBI does not publish a fixed approval timeline, so the actual period depends on the complexity of the proposal and the response time for queries.
Yes. A Private Limited Company or Public Limited Company can apply, provided it is incorporated under the Companies Act, has the required NOF, and has an objects clause that permits NBFC activities.
Net Owned Fund (NOF) is broadly the paid-up equity capital plus free reserves, minus accumulated losses, deferred revenue expenditure, and intangible assets. RBI uses this as a key capital benchmark for NBFC registration and ongoing prudential compliance.
NBFC-ICC (Investment and Credit Company) is the most common NBFC category for lending and investment activities. New NBFC-ICC applicants are generally required to have a minimum NOF of ₹10 crore.
NBFC-MFI (Micro Finance Institution) is a non-deposit taking NBFC with at least 75% of its total assets deployed in microfinance loans as defined by RBI. New applicants generally need a minimum NOF of ₹10 crore.
Operating NBFC business without the required RBI Certificate of Registration can attract action under the RBI Act, 1934. Under Section 46, the penalty for certain contraventions can extend up to ₹10 crore, and continuing contraventions can attract additional daily fines. RBI may also direct the entity to stop the unauthorised activity.
Only NBFCs that have specific RBI authorisation to accept public deposits can do so. Most new applicants seek registration as non-deposit taking NBFCs and cannot accept public deposits merely because they receive the Certificate of Registration.
RBI currently accepts NBFC registration applications through the RBI online application portal (PRAVAAH on rbi.org.in). Applicants should use the current RBI online application route specified by RBI at the time of filing.
RBI expects directors to satisfy the fit and proper criteria. In practice, this includes clean credit history, no serious regulatory or criminal issues, relevant capability for the proposed business, and full declarations and supporting documents.
Fair Practices Code is a board-approved policy framework for lending-related NBFCs. It generally covers transparent communication, loan processing, interest disclosure, recovery practices, and grievance redressal in line with applicable RBI directions.
Yes, subject to the Companies Act, FEMA / FDI rules, and RBI's fit and proper assessment. Applicants should review the current foreign investment and residency requirements applicable to the proposed NBFC structure before filing.
RBI may ask for clarifications, keep the application pending, or reject it if the proposal does not satisfy regulatory expectations. After reviewing the reasons, the applicant can correct the gaps and consider filing a fresh application with improved documentation.
Yes. Once registered, the company remains subject to statutory audit requirements under the Companies Act. Depending on the category and scale, RBI may also require additional auditor certificates, returns, or supervisory submissions.
IncorpX's professional charges for NBFC registration assistance start at ₹49,999. Listed amounts are IncorpX professional charges for end-to-end assistance. Government / statutory fees are charged separately at actuals.
You can begin with a category and eligibility review, followed by company structuring, capital planning, documentation, and application preparation. IncorpX assists with each stage, including filing support on the RBI online application portal and responses to RBI queries.
Yes. An existing company can apply if it aligns its objects clause, capital structure, governance, and business plan with RBI requirements and then files the registration application with the prescribed documents.
No. Prudential norms, including capital adequacy requirements, depend on the NBFC category, scale, and applicable RBI directions. Applicants should review the current directions relevant to their proposed category instead of assuming a single ratio applies to every NBFC.
Applicants should verify the current filing requirements and payment instructions on the RBI online application portal (PRAVAAH on rbi.org.in) and in the latest RBI application form at the time of filing. IncorpX's professional charges are separate from any government / statutory fees or capital requirements.
Yes. IncorpX assists with drafting clarifications, compiling supporting documents, and coordinating follow-up responses during RBI's review process. The Certificate of Registration, if approved, is issued by RBI.
Businesses whose principal activity falls under another regulator, such as IRDAI for insurance, may not require NBFC registration from RBI for that regulated activity. The correct regulatory route depends on the actual business model.
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