Details

Non-Banking Financial Companies (NBFCs) are financial institutions engaged in lending, investments, or other financial services but are not banks. These entities are regulated by the Reserve Bank of India (RBI) and are subject to strict licensing and compliance requirements. R V K & Associates assists clients with NBFC incorporation, registration with the RBI, ongoing compliance, and audit-related matters.

Our NBFC / RBI Services Include:

1. NBFC Registration & Licensing:

• Advisory on eligibility criteria for NBFC registration

• Preparation and filing of the RBI application under the appropriate NBFC category (Loan Company, Investment Company, CIC, etc.)

• Preparation of required documents:

  • Business plan

  • KYC of promoters

  • Net owned fund certification

  • Fit and proper declarations

• Liaison with RBI officials for clarifications and follow-ups

2. RBI Regulatory Filings and Returns:

• Preparation and filing of periodic returns such as:

  • NBS-1, NBS-2, NBS-9

  • Statutory Auditor Certificate (SAC)

  • FDI reporting in case of foreign ownership

• Annual compliance under RBI Master Directions

• Monitoring of regulatory developments and circulars

3. NBFC Accounting and Audit Support:

• Statutory audit and tax audit for NBFCs

• Advisory on provisioning, NPA classification, and income recognition norms

• Financial statement preparation in accordance with RBI requirements and Ind AS

4. Change Management & Advisory:

• Assistance with changes in shareholding, directors, or control structure

• Conversion or reclassification of NBFC category (e.g., from investment to loan company)

• Advisory on M&A involving NBFCs

• Surrender or cancellation of NBFC license

5. RBI Inspections & Response Support:

• Advisory during RBI on-site inspections

• Drafting replies to notices and compliance deficiencies

• Representation before RBI in response to queries or show-cause notices

Types of NBFCs We Support:

• NBFC – Investment and Credit Company (NBFC-ICC)

• Infrastructure Finance Company (IFC)

• Micro Finance Institution (MFI)

• Housing Finance Companies (HFCs)

• Core Investment Companies (CICs)

• Fintech and Digital Lending Entities

Regulatory Framework:

• Regulated under the Reserve Bank of India Act, 1934

• Governed by RBI’s Master Directions on NBFCs

• Subject to Income Tax, Companies Act, and FEMA provisions, as applicable