Formation Procedure

A company an with main object clause/ y ancillary clause
for carrying out NBFI activities (check object clause)
• Obtain checklist of requirements from RBI website
• Fill up prescribed form, available on RBI website,
according to instructions with the requirements
• Fill up the e‐form provided in excel format
• Get the required certifications of the statutory
auditors/chartered auditors/chartered accountants accountants (as the case may be)
• Submit soft copy on RBI website before submission of
the hard copy
Obtain the printout of successful submission of
the soft copy. Mention the date of submission on
the print if date is not appearing on print.
• Submit the hard copy application in duplicate to
regional office of RBI
• Each page in the application file should be
numbered
• Prepare the application in  triplicate so that a
replica is with the applicant for future reference

Commencement of Business 

• NBFC must commence commence its business business within 6 months from the date of CoR
• If not commenced commenced within 6 months , CoR will stand withdrawn
• No c hange in control prior to commencement of its business