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NBFC Registration in Chennai
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NBFC-ICC Registration
NBFC-MFI (Microfinance) License
NBFC-P2P (Peer-to-Peer) License
NBFC-Factor Registration
Complete RBI Application
Post-Registration Compliance
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Siddhu ManojFounder & CEO of Two-LYP Computations Pvt. Ltd.
“Incorporating my Startup with IncorpX was an incredibly smooth and hassle-free experience. The team was highly professional, guiding us every step of the way with clear communication and prompt support. The registration process was fast, and every detail was handled with precision and accuracy. Highly recommend IncorpX for anyone starting a business.”
Abhishek LohaniDirector at Lohani Learnings
“Company is good and service is also smooth. I used their compliance service and the response was timely with no delay and price are also convenient. They are always available to cater your need.”
Chandan Kr. ChaudharyFounder of Creative Minds
“I am very satisfied with the team of IncorpX for providing the top notch services. Team of IncorpX was giving the update on daily basis was one of the best thing which I experience in Corporate. keep doing it. Thank you!”
Jayavijaya SJFounder of Agro Farms
“Don't think twice.Got my company incorporates here. Tbh very impressed by the quality of service provided by this team. Very organized and friendly team. Had a smooth and peaceful experience. Timely regular updates were provided by the team. Overall a great experience.”
Anoop KrishnanFounder of EIGHTH DAY FORGE
“It's rare to find a service provider who makes the process feel personal - IncorpX absolutely did. From day one, they patiently explained every detail without any jargon, making it easy to understand and stress-free. There was zero chasing, no delays-just efficient, smooth execution all the way through. I felt supported, heard, and confident at every step of registering my company EIGHTH DAY FORGE (OPC) Private Limited. Thanks to Mr. Sriram and his wonderful team.”
Ramesh LankeFounder of EKnal Technologies
“IncorpX made the entire registration process for our company, EKnal Technologies, smooth and stress-free. Their team was professional, efficient, and incredibly supportive from start to finish. Highly recommend them to any founder looking for a reliable partner in their business journey! Special shoutout to Sriram and Aswin-your support, clarity, and responsiveness made the whole process incredibly smooth.”
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Why Choose Us?
Expert Legal Team
Professional team with deep expertise in incorporation laws.
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Quick incorporation process - most companies registered in 7-10 working days.
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Dedicated relationship manager assigned to your registration.
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Launch Your NBFC with RBI Approval in Chennai?
Complete NBFC registration from company incorporation to RBI license - Expert guidance at every step
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 reach out to guide you through the process.
03
Get Your NBFC Registered with RBI
Our experts handle the complete NBFC registration process from start to finish. We handle everything.
Pricing
Simple & Transparent Pricing
MOST POPULAR
NBFC Registration Package in Chennai
₹49999 /one-time
Get incorporated in 5 days
5-day turnaround 100% guaranteed
NBFC Category Assessment
Company Incorporation (if needed)
Capital Structure Planning
Business Plan Preparation
RBI Application Drafting
Document Compilation
COSMOS Portal Submission
RBI Query Handling
License Issuance Support
Post-Registration Guidance
*Statutory charges applicable as per government norms
4.9/5 based on 942+ reviews
Risk-free registration
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Premium Plan
IncorpX Prime
Premium incorporation service designed for founders who value speed, compliance, and dedicated support.
Key Benefits
Personalised support from dedicated incorporation specialists.
Application prepared and filed within 1 days.
Anytime access to our support team.
Important Notes
We strive to register your preferred business name whenever feasible.
Expert guidance on MCA-compliant naming conventions.
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013 that engages in the business of loans and advances, acquisition of securities, leasing, hire-purchase, insurance business, or chit fund business. NBFCs play a crucial role in India's financial ecosystem by providing credit to underserved segments.
Under Section 45-IA of the RBI Act, 1934, no company can commence or carry on the business of a non-banking financial institution without obtaining a Certificate of Registration (CoR) from the Reserve Bank of India. Operating without an NBFC license is a serious offense punishable with imprisonment and heavy fines.
The RBI has revised the minimum Net Owned Fund (NOF) requirement for NBFCs. Currently, most NBFCs require a minimum NOF of ₹10 crore, though this varies by category. The application is submitted through RBI's COSMOS portal and typically takes 4-6 months for approval.
At IncorpX, we provide comprehensive NBFC Registration Services covering everything from company incorporation to RBI license issuance. Our team of experienced Chartered Accountants (CAs) and Company Secretaries (CSs) has successfully registered over 100 NBFCs across various categories.
What is NBFC Registration?
NBFC Registration is the process of obtaining a Certificate of Registration (CoR) from the Reserve Bank of India to operate as a Non-Banking Financial Company. This license authorizes the company to engage in financial activities like lending, investment, and other specified financial services.
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 is punishable with imprisonment up to 5 years and a fine up to ₹25 crore. The RBI conducts regular checks and takes strict action against unregistered entities conducting NBFC business.
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 low-income borrowers. At least 85% of assets must be qualifying assets.
Minimum NOF: ₹5 crore (₹7 crore in North-East).
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 NBFC Registration Service?
Our NBFC Registration Services are designed for maximum success with RBI. Here's what makes IncorpX the preferred choice:
1. Category Assessment
We help identify the right NBFC category based on your business model and target market.
2. Company Setup
If needed, we incorporate a company with NBFC-compliant MOA and capital structure.
3. Business Plan
Comprehensive business plan preparation as per RBI requirements and expectations.
4. Capital Planning
Guidance on NOF calculation, capital infusion, and fund source documentation.
5. RBI Application
Expert preparation and submission of application on COSMOS portal.
6. Director Vetting
Assistance with director fit and proper criteria compliance and declarations.
7. Query Handling
Comprehensive response to RBI queries and additional information requests.
8. Policy Framework
Preparation of Fair Practice Code, KYC Policy, and other required policies.
9. License Issuance
End-to-end support till Certificate of Registration is issued by RBI.
10. Post-Registration
Guidance on post-registration compliance and operational requirements.
Benefits of NBFC Registration in Chennai:
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.
Launch your financial services business today!
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
₹5 crore
Microfinance Lending
85% qualifying assets, income limits
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
₹25 crore
Housing Finance
60% in housing loans, NHB regulated
Eligibility Criteria for NBFC Registration in Chennai:
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, CIBIL, Net Worth Certificate
Fit and proper compliance
Capital Documents
CA Certificate for NOF, Bank Statements, Source of Funds
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 in Chennai:
We follow a systematic approach to ensure successful NBFC registration:
Step 1: Initial Consultation
We analyze your business model, target market, and determine the appropriate NBFC category (ICC, MFI, P2P, etc.).
Step 2: Company Incorporation
If not already incorporated, we set up a Private or Public Limited Company with NBFC-compliant objects clause.
Step 3: Capital Infusion
Guide the infusion of minimum NOF with proper documentation of source of funds from promoters.
Step 4: Document Preparation
Prepare comprehensive application including business plan, policies, director declarations, and supporting documents.
Step 5: RBI Application
Submit application on RBI's COSMOS portal with all required documents and prescribed fees.
Step 6: RBI Processing
RBI reviews application, may raise queries. We handle all query responses and provide clarifications.
Step 7: License Issuance
Upon successful review, RBI issues Certificate of Registration. We assist with post-registration compliance setup.
Expert guidance for successful RBI approval!
Post-Registration Compliance for NBFCs:
Once registered, NBFCs must maintain ongoing compliance with RBI. Here are the key requirements:
Compliance
Frequency
Due Date
NBS-1 (Quarterly Return)
Quarterly
Within 15 days of quarter end
NBS-2 (Prudential Norms)
Quarterly
Within 15 days of quarter end
NBS-3 (Auditor Certificate)
Annually
Within 30 days of AGM
Statutory Audit
Annually
Within 6 months of FY end
CRAR Maintenance
Continuous
Minimum 15%
ALM Returns
Monthly/Quarterly
Based on asset size
Why Choose IncorpX for NBFC Registration in Chennai?
Starting an NBFC involves multiple regulatory requirements. We've compiled answers to the most frequently asked questions to help you understand the NBFC registration process.
These FAQs cover eligibility, capital requirements, timelines, and compliance requirements for NBFCs.
NBFC (Non-Banking Financial Company) is a company registered under the Companies Act that engages in the business of loans, advances, acquisition of securities, leasing, hire-purchase, or insurance business. NBFCs must be registered with RBI to operate legally.
The minimum Net Owned Fund (NOF) varies by category:
NBFC-ICC: ₹10 crore
NBFC-MFI: ₹5 crore (₹7 crore in North-East)
NBFC-P2P: ₹2 crore
NBFC-AA: ₹2 crore
HFC: ₹25 crore
NBFC registration typically takes 4-6 months from application submission to license issuance. The timeline depends on completeness of application, RBI's query response time, and overall application load.
Yes. Both Private Limited and Public Limited companies can apply for NBFC registration. The company must be incorporated under the Companies Act with objects clause permitting NBFC activities.
Net Owned Fund (NOF) is the paid-up equity capital plus free reserves, minus accumulated losses, deferred revenue expenditure, and intangible assets. It's the key capital metric for NBFC registration and ongoing compliance.
NBFC-ICC (Investment and Credit Company) is the most common NBFC category. It can engage in lending (loans, advances, asset finance) and investment in securities. Minimum NOF requirement is ₹10 crore.
NBFC-MFI (Micro Finance Institution) is an NBFC that provides microfinance loans to low-income borrowers. At least 85% of its net assets must be "qualifying assets" (small loans to low-income borrowers).
Operating as an NBFC without RBI registration is punishable with imprisonment up to 5 years and fine up to ₹25 crore. RBI actively monitors and takes action against illegal NBFCs.
Only select NBFCs with specific RBI approval can accept public deposits. Most new NBFCs are registered as NBFC-ND (Non-Deposit) and cannot accept public deposits. They can only borrow from banks and FIs.
COSMOS (Centralized Information Management System) is RBI's online portal for NBFC registration and supervision. All NBFC applications, returns, and compliance filings are submitted through this portal.
Directors must meet the fit and proper criteria. They should have clean CIBIL records, no criminal cases, relevant experience, and must not be directors on the boards of too many companies. Detailed declarations are required.
Fair Practice Code is a mandatory policy that NBFCs must adopt. It covers loan application procedures, interest rate disclosure, loan recovery practices, and grievance redressal mechanism as per RBI guidelines.
Yes, foreign nationals can be directors in an NBFC, subject to FDI norms. However, at least one director should be resident in India. FDI up to 100% is permitted in most NBFC categories under automatic route.
If rejected, you can address the reasons for rejection and reapply after a cooling-off period. RBI usually provides detailed reasons. IncorpX helps analyze rejections and prepare stronger reapplications.
CRAR (Capital to Risk-weighted Assets Ratio) is a capital adequacy measure for NBFCs. Most NBFCs must maintain minimum CRAR of 15%. It ensures NBFCs have adequate capital for their risk exposure.
Yes. An existing company can convert to NBFC by amending its objects clause, infusing required capital, and applying for RBI registration. The company should not have been engaged in non-financial activities previously.
RBI charges an application fee of ₹10,000 for NBFC registration. This is non-refundable and must be paid at the time of application submission through the COSMOS portal.
Yes. All NBFCs must undergo annual statutory audit by a Chartered Accountant. The auditor must certify compliance with RBI norms. Internal audit is also mandatory for NBFCs above certain thresholds.
IncorpX's NBFC registration package starts at ₹49,999 (excluding government fees and capital). This includes complete application support, documentation, RBI liaison, and query handling till license issuance.
Getting started is simple:
Contact us for initial consultation
We assess your business model and recommend NBFC category
Incorporate company (if needed) and infuse capital
The team was very responsive and helpful. I received daily updates from the WhatsApp group, and their guidance made everything much simpler to comprehend. If you want a simple and hassle-free way to launch your business, I would highly recommend them!
S
Simon Job
4.9/5
I recently used IncorpX to register my limited liability partnership, and I had an amazing experience! There were no hidden fees, and the team was helpful, quick to respond, and open. They provided thorough explanations of each step, and their services are reasonably priced without sacrificing quality. The entire process was made simple by IncorpX's professionalism, attention to detail, and sincere support. Strongly advised!
J
Jay R
4.8/5
The experience was flawless; the team completed each task with care and always responded quickly. Throughout the process, I never felt stuck. We would especially like to thank Saksham and Sriram for making everything run so smoothly! The IncorpX team offers extremely competitive pricing; anyone just starting out should definitely get in touch with them.
M
Mohammed Affan
4.9/5
I'm really grateful to the wonderful team at IncorpX for helping bring my co-founder's and my dream to life. The whole process was super smooth - fast service, great support, and no hassles at all. I'd highly recommend IncorpX to any new entrepreneur or founder looking to register their company. Excited to continue working with them in the long run. Thank you, IncorpX!
R
Riyom Taipodia
4.6/5
One of the best agency I have ever experienced. Team members are very friendly as if we know each other from before and came communicate and share easily. My work has been done in a very short period and I am so happy. Thank you so much.
A
Ayyappa Swamy
5/5
Highly recommend... IncorpX services regarding incorporation of our company and roc filing and all are very impressive.. the team IncorpX is polite and friendly. Our Lands Time pvt ltd has incorporated through IncorpX... And thanks to IncorpX team..
R
Ramesh Babu
4.9/5
Trouble free service, Rendering good co-operation for company incorporation. Trust worthy team to have better knowledge.
P
Pravesh Kudesia
5/5
IncorpX is providing best service... And user experience! Thank You IncorpX Team
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Balaji Gutte
4.9/5
I recently got my Private Limited Company incorporated through IncorpX, and the experience was seamless! The team was professional, supportive, and quick to respond throughout the process. Highly recommend IncorpX for a smooth and stress-free company registration experience.
D
Dia
5/5
I'd been planning to register my Private Limited Company for months but didn't know where to start - until I found IncorpX. The team guided me step by step, explained everything clearly, and completed the registration smoothly within the promised timeline. Their pricing was transparent with no hidden charges. Highly recommend IncorpX to anyone starting a business!
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