Non-Banking Financial (NBFC)

  • Issue of Registration Certificate
  • Change of RBI Jurisdiction
  • RBI Compliances
  • Annual Fillings
  • Surrender of NBFC Certificate
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Non-Banking Financial Institutions (NBFCs) is a company which is registered under the Companies Act, 2013 and engaged in the business of loans and advances, acquisition of shares / stocks / bonds / debentures / securities or other marketable securities, hire-purchase, leasing, insurance business, chit business.

Apart from the compliance required to be followed under the Companies Act, 2013 (as laid down in the Companies Act Section under Compliance Tab of this website) the NBFCs are also required to follow the guidelines prescribed under the Reserve Bank of India Act, 1934.

Registration:

As per the Section - 45-IA of the Reserve Bank of India Act, 1934, before commencing any activity or carrying on any business of non-banking financial institution, the company is reqired to obtain a Certificate of Registration (CoR) from the Reserve Bank of India.

Following are exempt from taking the Registration:
  • Venture Capital Fund
  • Merchant Banking companies
  • Stock broking companies registered with SEBI, Insurance Company holding a valid Certificate of Registration issued by IRDA
  • Nidhi companies as notified under Companies Act, 2013
  • Chit companies as defined in clause (b) of Section 2 of the Chit Funds Act, 1982
  • Housing Finance Companies regulated by National Housing Bank, Stock Exchange
  • A Mutual Benefit Company
Types of NBFCs
NBFC
Laibility Based
  1. Depost Taking (NBFC-D)
  2. Non-Deposit Taking (NBFC-ND)
  3. Systemically important (NBFC-NDSI)
  4. Others (NBFC-ND)
NBFC
Asset Based
  1. Asset Financing Company (AFC)
  2. Investment Company (IC)
  3. Loan Company (LC)
  4. Infrastructure Finance Company (IFC)
  5. Factor
  6. Micro Finance Institutions
  7. Infrasturcture Debt Funds
Compliance:
NBFC-D (Deposit Taking NBFC)
S.No. Type of Reutrn Due Time Periodicity
1 NBS1 Witihin 15 days of the end of each Quarter Quarterly
2 NBS2 Witihin 15 days of the end of each Quarter Quarterly
3 NBS3 Witihin 15 days of the end of each Quarter Quarterly
4 Branch Information Return Witihin 15 days of the end of each Quarter Quarterly
5 Reporting to Central Repository of Information on Large Credits (CRILC) Witihin 21 days of the end of each Quarter Quarterly
6 ALM(NBFC-D)(having public deposit of > INR 20 Cr OR Asset Size of > INR 100 Cr Within 30 days of the end of half year Half Yearly
7 Statutory Auditors Certificate Witihin 1 months from the date of finalisation of Balance Sheet OR 30 December, whichever is earlier Annual
8 Reporting of Special Mention Account status (SMA-2 return) Every Friday Weekly
NBFC-ND-SI (Non-Deposit Taking NBFC which are systemically important)
S.No. Type of Reutrn Due Time Periodicity
1 NBS7 Witihin 15 days of the end of each Quarter Quarterly
2 NBFC-ND-SI 500Cr Witihin 15 days of the end of each Quarter Quarterly
3 ALM-1 Witihin 15 days of the end of each Quarter Quarterly
4 Branch Information Return Witihin 15 days of the end of each Quarter Quarterly
5 Reporting to Central Repository of Information on Large Credits (CRILC) Witihin 21 days of the end of each Quarter Quarterly
6 ALM-2 & 3 Within 30 days of the end of half year Half Yearly
7 Statutory Auditors Certificate Witihin 1 months from the date of finalisation of Balance Sheet OR 30 December, whichever is earlier Annual
8 Reporting of Special Mention Account status (SMA-2 return) Every Friday Weekly
NBFC-ARC
S.No. Type of Reutrn Due Time Periodicity
1 ARC Witihin 15 days of the end of each Quarter Quarterly
2 Statutory Auditors Certificate Witihin 1 months from the date of finalisation of Balance Sheet OR 30 December, whichever is earlier Annual
NBFC-ND (Asset Size: INR 100 Cr - INR 500 Cr.)
S.No. Type of Reutrn Due Time Periodicity
1 NBS8 Witihin 60 days of the close of the Financial Year i.e. 30 May Annual
2 Statutory Auditors Certificate Witihin 1 month from the date of finalisation of Balance Sheet OR 30 December, whichever is earlier Annual
NBFC-ND (Asset Size: less than INR 100 Cr.))
S.No. Type of Reutrn Due Time Periodicity
1 NBS9 Witihin 60 days of the close of the Financial Year i.e. 30 May Annual
2 Statutory Auditors Certificate Witihin 1 month from the date of finalisation of Balance Sheet OR 30 December, whichever is earlier Annual
RNBCs
S.No. Type of Reutrn Due Time Periodicity
1 NBS3A Witihin 15 days of the end of each Quarter Quarterly
2 NBS1A Witihin 6 months of the close of the Financial Year Annual
2 Statutory Auditors Certificate Witihin 1 month from the date of finalisation of Balance Sheet OR 30 December, whichever is earlier Annual
Other NBFCs
S.No. Type of Reutrn Due Time Periodicity
1 Overseas Investments Witihin 15 days of the end of each Quarter Quarterly
2 Reutrn on FDI Within 30 days of the end of half year Half Yearly