NBFC Registration Services – Tax Pal Solutions
Simplify Your NBFC Journey
Tax Pal Solutions provides end-to-end assistance for NBFC (Non-Banking Financial Company) Registration in India. Our expert team ensures that your application aligns with RBI requirements, helping you secure approval smoothly and without delays.
Why Choose NBFC Registration?
Non-Banking Financial Companies play a vital role in extending credit facilities across India. They provide specialized services such as:
- Personal and business loans
- Gold and asset financing
- Microfinance for rural development
- Infrastructure project funding
- Leasing and hire-purchase solutions
NBFCs enable financial inclusion by serving customers beyond the reach of traditional banks.
Key Benefits of NBFC Registration
- Legal recognition and RBI license
- Authority to lend and invest in securities
- Access to a wider customer base
- Increased trust and credibility
- Opportunities for niche financial services
NBFC vs. Bank – Quick Comparison
| Feature | NBFCs | Banks |
|---|---|---|
| Demand Deposits | Not allowed | Allowed |
| Payment System Access | No (cannot issue cheques) | Yes (clearing, cheque facilities) |
| Deposit Insurance | Not covered by DICGC | Covered under DICGC |
| Regulatory Authority | RBI Act & NBFC Master Directions | Banking Regulation Act |
| Customer Safety | Moderate (higher risk) | High (more protections) |
Types of NBFCs in India
- Investment & Credit Company (ICC) – General lending & investment services
- Infrastructure Finance Company (IFC) – Funds infrastructure projects like roads & power
- Micro Finance Institution (MFI) – Provides small collateral-free loans to low-income households
- NBFC-Factors – Specialize in invoice discounting and receivables financing
- Gold Loan NBFCs – Offer loans against gold jewellery as collateral
- Account Aggregators (NBFC-AA) – Securely consolidate financial information for customers
- Peer-to-Peer (P2P) NBFCs – Online platforms connecting borrowers and lenders
Eligibility Criteria for NBFC Registration
To register as an NBFC in India, your company must meet the following:
- Incorporated as a Private Limited or Public Limited Company
- Minimum Net Owned Fund (NOF) of ₹10 crore
- Activities focused on financial services (lending, investment, etc.)
- Promoters and directors must be “fit and proper” (clean record, financial credibility)
- Compliance with RBI regulations and reporting norms
Documents Required
- Certificate of Incorporation
- Memorandum & Articles of Association (MoA & AoA)
- Board Resolution for NBFC operations
- KYC documents of directors & shareholders
- Net Owned Fund certificate (CA certified)
- Bank statements showing minimum NOF balance
- Business Plan (5 years projection)
- Grievance Redressal Policy & Fair Practices Code
NBFC Registration Process
- Company Incorporation – Form a Pvt. Ltd. or Public Ltd. company under Companies Act
- Arrange Capital – Maintain ₹10 crore in liquid funds (NOF requirement)
- Business Plan Preparation – Draft a 5-year plan with financial projections
- Online Application – Apply through RBI’s PRAVAAH Portal
- Document Submission – Send hard copies to RBI’s Central Office, Mumbai
- RBI Review & Approval – RBI scrutinizes and issues the Certificate of Registration (CoR)
Timeline & Fees
| Stage | Estimated Duration | Approx. Cost (₹) |
|---|---|---|
| Company Incorporation | 2–4 weeks | 10,000 – 20,000 |
| NOF Arrangement & Certificate | 1–2 months | Capital requirement: 10 Cr |
| RBI Application Fee | Immediate | 3,00,000 (non-refundable) |
| Professional / Consultancy | Ongoing | 50,000 – 1,50,000 |
| RBI Scrutiny & Approval | 3–4 months | No extra fee |
Total Timeframe: 3–6 months (approx.)
Post-Registration Compliance
Once registered, NBFCs must comply with ongoing requirements:
- Filing quarterly, monthly, and annual returns with RBI
- Membership with Credit Information Companies (CIBIL, Equifax, etc.)
- Registration with Central KYC Registry (CERSAI)
- Reporting transactions to FIU-IND (Financial Intelligence Unit)
- Annual filings with Ministry of Corporate Affairs (MCA)
Tax Pal Solutions Advantage
- 500+ Certified Experts
- 2500+ Monthly Client Registrations
- Transparent Pricing
- End-to-End RBI Compliance Support
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