NBFC License

Obtaining an NBFC (Non-Banking Financial Company) license in India is essential for businesses offering financial services like loans, asset financing, and investments without holding a banking license. The Reserve Bank of India (RBI) regulates NBFCs and mandates strict compliance. To apply for an NBFC license, the company must first be incorporated under the Companies Act, 2013 as a private or public limited company. It must have a minimum Net Owned Fund (NOF) of ?2 crores, maintained transparently. The application process involves submitting essential documents, including a business plan, details of directors, financial projections, and proof of NOF, through the RBI’s COSMOS portal. Background checks are conducted to ensure no regulatory issues with promoters. Once approved, the NBFC must adhere to ongoing regulatory requirements, such as asset classification, capital adequacy, and periodic reporting, to maintain the license. Compliance failures may result in penalties or license cancellation.

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