NBFC License

NBFC Registration with RBI in a very simplified manner!

Starting at 799999/-

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About this Plan

Well, if you are thinking to setup finance company then you are at the right place! We are the leading player in the field of NBFC Registration. For NBFC registration, our team of experts will file an application along with the necessary documents with the RBI. If everything goes well, RBI will issue COR (Certificate of Registration).

Services Covered

  • Necessary Documentation for NBFC Registration
  • Filing of NBFC Registration application with RBI
  • End to End Coordination with department till the COR is obtained
  • Business Plan
  • Advisory on fintech based lending model
  • Advisory on alternative credit scoring model
  • Annual Compliances
  • Internal Audit
  • Digital Marketing
  • Legal Advisory services if required
  • Full assistance on meeting the secretarial as well as RBI compliances

Who should go for it?

You should apply for NBFC license, if you intend to enter into Indian Financial Market. Nowadays people prefer taking loan from NBFCs (Non-banking Financial Companies) in place of traditional banks as NBFCs has quick loan sanctioning process.

NBFCs ascertain the loan eligibility of an applicant faster than the banks. Therefore NBFCs are more preferable choice. Under this, entire customer acquisition process can be online. If you have a Net Owned Fund of Rs. 2 Crore then you can apply for NBFC registration.

Some of the benefits of this model:

  • Low Operational Cost
  • Unlimited Reach to Customers
  • Higher Rate of Interest
  • Lower NPA in comparison to Banks
  • Use of AI (Artificial Intelligence) & machine learning tools which minimize the risk of fraud.

Steps Covered

  • Company Registration with the Registrar of Companies where name must reflect the finance related object and object clause under MOA must reflect the finance business.
  • Bank Account Opening with the Scheduled Commercial Bank
  • Business Plan for proposed NBFC
  • Collection & Preparation of necessary documents as per the RBI guidelines
  • Submission of online application for NBFC registration on the website of the RBI (COSMOS)
  • Physical submission of all the documents with the regional office of the RBI where the registered office of the company is situated
  • Submission of additional documents as asked by the RBI and respond to the notice of RBI
  • After vigilant inspection of the documents, COR will be granted by the RBI
  • Assistance in obtaining membership from all the four Credit rating agencies (CIBIL, Equifax, Experian and CRIF Highmark).
  • Assistance in FIU-IND Registration

Documents Required

  • Certified copy of the Certificate of Incorporation, MOA & AOA
  • KYC of directors & shareholders of the applicant company
  • Highest qualification certificate of the directors of an applicant company
  • Net worth certificate of the directors & shareholders of the company
  • Bankers Report regarding the no lien remark on fixed report of Rs. 2 Crore
  • Credit Report of directors & shareholders
  • Detailed action plan of the proposed NBFC along with the organizational structure
  • Financial statements of the applicant company along with the directors report & auditor’s report
Frequently asked Questions

Q1. What is NBFC (Non-Banking Financial Institution)?

NBFC (Non-Banking Financial Company) is a type of company which is engaged in the financial activities which carries the business of loans & advances, acquisition of shares, debentures, stocks, and securities.

Q2. What are the types/ categories of NBFC in India?

In terms of the type of liabilities

  1. NBFCs-D (Deposit taking NBFCs) and
  2. NBFCs-ND (Non-Deposit accepting NBFCs),

In terms of size

  1. Systemically Important (NBFC-ND-SI)

In terms of activity

  1. Asset Finance Company (AFC)
  2. Investment Company (IC)
  3. Loan Company (LC)
  4. Infrastructure Finance Company (IFC)
  5. Systemically Important Core Investment Company (CIC-ND-SI)
  6. Infrastructure Debt Fund Non- Banking Financial Company (IDF-NBFC)
  7. Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI)
  8. Non-Banking Financial Company– Factors (NBFC-Factors)

Q3. It is mandatory to register with RBI?

NBFCs are regulated by the Reserve bank of India. RBI issues time to time directions for NBFCs. It is required to obtain license from the RBI in order to commence its operations.

Q4. Can a foreigner become in Partnership Firm?

No, a foreigner cannot become a partner in a partnership firm. It can only be carried out by the person's residence in India.

Q5. Why one should opt for NBFC registration in place of NBFC takeover?

RBI has simplified the process of NBFC registration. We recommend you to go for NBFC registration rather than acquiring the existing NBFC through NBFC takeover.

Q6. How NBFCs are different from banks?

NBFCs and banks provide financial services, but we can differentiate them on the basis of the following:

  • Demand deposits cannot be accepted by the NBFCs
  • NBFCs are not eligible to issue cheque drawn on itself as they do not form part of payment and settlement system
  • Credit guarantee and insurance facility are not available to depositors
  • NBFCs cannot issue cards
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" Excellent advisory role by Enterslice Team. They are a trusted partners to us. Narendra and his team helped us with our pre NBFC applications and Post NBFC advisory services. "

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