NBFC registration, payment aggregator licensing, digital lending guidelines, priority sector reporting, RBI inspection readiness and enforcement defence.
Short, direct, on the record.
Existing PAs must have a net worth of INR 25 crore by March 2025. New applicants must have INR 15 crore at application and achieve INR 25 crore within three years. Online PAs processing above prescribed volumes and all offline PAs require RBI authorisation.
The RBI September 2022 guidelines require all lending to be between the borrower and the regulated entity (RE). Loan Service Providers (LSPs) must disclose their role, disbursement and repayment must flow directly between RE and borrower, a Key Fact Statement must be provided, and FLDG arrangements are capped at 5% of the loan portfolio.
A foreign owned or controlled NBFC can register with the RBI subject to FDI policy compliance (100% FDI permitted under automatic route for regulated NBFCs). The entity must be incorporated in India, meet minimum net owned fund requirements and satisfy the fit and proper criteria for directors and shareholders.
The RBI can impose monetary penalties under Section 58B of the RBI Act, issue directions under Section 45L, restrict or cancel the Certificate of Registration, and initiate winding up proceedings. For payment system operators, the Payment and Settlement Systems Act, 2007 provides separate penalty provisions.
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