Checklist for NBFCs, NBFC-MFIs, NBFC-Factors and CICs

 RBI/2012-13/319
DNBS.CC.PD.No. 312/03.10.01/2012-13

December 07, 2012

To
All NBFCs (excluding RNBCs)

Dear Sir,

Checklist for NBFCs, Non Banking Financial Company-Micro Finance Institutions (NBFC-MFIs), Non Banking Financial Company-Factoring Institutions (NBFC-Factors) and Core Investment Companies (CICs)

Please refer to the Application for seeking Certificate of Registration from the Reserve Bank and the list of documents mentioned therein that is required to be submitted. In order to expedite the process of obtaining registration from the Reserve Bank as NBFCs, the checklist of documents to be submitted along with the application form have been reviewed and made more exhaustive. As the businesses of the various types of NBFCs vary, the documentation required for registration will also vary. Hence the following may kindly be taken note of :

i. The Application Forms will remain the same for all NBFCs until changed in the online COSMOS Application, except in the case of CIC-ND-SIs where a separate application form has been prescribed.

ii. Five checklists have been uploaded in the RBI website, a) documents required for registration as NBFCs b) documents required for registration of NBFC-MFI – New Companies and c) documents required for registration of NBFC-MFI (Existing NBFCs) d) documents required for registration of NBFC – Factors and e) documents required for registration as CIC-ND-SI.

iii. While converting from an already registered NBFC to that of NBFC-MFI or NBFC-Factors, for the present, the concerned NBFC need not fill out the Application Form as provided in the RBI Website. The Application for conversion may be made on company’s letterhead accompanied by the original COR and all the documents as given in the checklist. The Bank will after scrutiny of the documents convert the status to NBFC-MFI or NBFC-Factors, as the case may be, by making a suitable remark on the Certificate of Registration. As stated above, this arrangement will be in place until the Application Form for NBFC-MFI and NBFC-Factors is changed in the COSMOS Online Application.

3. It is further advised that the Checklists mentioned are indicative and not exhaustive. Bank can, if necessary, call for any further documents to satisfy themselves on the eligibility for obtaining registration as NBFC. In the event of the Bank calling for further documents in addition to those mentioned in the checklist, the applicant company must respond within a stipulated time of one month failing which the application/request for conversion along with all the documents will be returned to the company for submission afresh with the required information/documents.

Yours faithfully

(Uma Subramaniam)
Chief General Manager in Charge