RBI-approved microfinance company registration - Expert Assistance
NBFC-MFI Registration in Vizag
Start Your Microfinance Company
RBI Licensed NBFC-MFI
- Starting @
₹39,999
Only
Complete RBI Application. Expert CA/CS Team. 100% Success Record.
NBFC-MFI License Application
Microfinance Business Plan
Qualifying Assets Structuring
RBI COSMOS Portal Filing
Complete Documentation
Post-Registration Compliance
Expert Consultation in Minutes
What Sets Us Apart
50+ MFIs Registered
100% RBI Approval Rate
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Siddhu ManojFounder & CEO of Two-LYP Computations Pvt. Ltd.
“Incorporating my Startup with IncorpX was an incredibly smooth and hassle-free experience. The team was highly professional, guiding us every step of the way with clear communication and prompt support. The registration process was fast, and every detail was handled with precision and accuracy. Highly recommend IncorpX for anyone starting a business.”
Abhishek LohaniDirector at Lohani Learnings
“Company is good and service is also smooth. I used their compliance service and the response was timely with no delay and price are also convenient. They are always available to cater your need.”
Chandan Kr. ChaudharyFounder of Creative Minds
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Jayavijaya SJFounder of Agro Farms
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Anoop KrishnanFounder of EIGHTH DAY FORGE
“It's rare to find a service provider who makes the process feel personal - IncorpX absolutely did. From day one, they patiently explained every detail without any jargon, making it easy to understand and stress-free. There was zero chasing, no delays-just efficient, smooth execution all the way through. I felt supported, heard, and confident at every step of registering my company EIGHTH DAY FORGE (OPC) Private Limited. Thanks to Mr. Sriram and his wonderful team.”
Ramesh LankeFounder of EKnal Technologies
“IncorpX made the entire registration process for our company, EKnal Technologies, smooth and stress-free. Their team was professional, efficient, and incredibly supportive from start to finish. Highly recommend them to any founder looking for a reliable partner in their business journey! Special shoutout to Sriram and Aswin-your support, clarity, and responsiveness made the whole process incredibly smooth.”
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WHY CHOOSE US?
Expert Legal Team
Professional team with deep expertise in incorporation laws.
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Kickstart your venture with efficient company setup, generally processed within a week.
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Empower Communities Through Microfinance in Vizag?
Start your NBFC-MFI to provide financial inclusion to underserved communities - Complete RBI registration support
HERE'S HOW IT WORKS
1. Fill the Form
Share your basic details through the form.
2. Call to discuss
Our startup expert will connect with you & complete legalities.
3. Get Your Microfinance License from RBI
Our experts handle the complete NBFC-MFI registration process from start to finish. Quick and hassle-free.
SIMPLE & TRANSPARENT PRICING
MOST POPULAR
NBFC-MFI Registration Package in Vizag
₹39999 /one-time
Complete within 6 days
Fast 6-day process Money-back guarantee
MFI Category Assessment
Company Incorporation (if needed)
Capital Structure Planning
Qualifying Assets Guidance
Business Plan Preparation
RBI Application Drafting
Document Compilation
COSMOS Portal Submission
RBI Query Handling
Post-Registration Support
*Govt fees charged at actuals based on your company type
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Refund guarantee
Safe transactions
5-star service
IncorpX Prime
Comprehensive business registration package with priority processing and expert guidance at every step.
Key Benefits
Dedicated relationship manager assigned to your company.
Documentation completed in 3 business days.
Round-the-clock WhatsApp support.
Important Notes
Multiple name options processed to maximize approval chances.
Alternative name suggestions are provided if the preferred name is not approved.
Package includes first-year compliance services: auditor appointment, annual filings, and related obligations.
An NBFC-MFI (Non-Banking Financial Company - Micro Finance Institution) is a specialized category of NBFC that provides microfinance services to low-income borrowers. These institutions play a crucial role in financial inclusion by providing credit to individuals and groups who are typically excluded from traditional banking services.
Under RBI guidelines, an NBFC-MFI must ensure that at least 85% of its net assets are in the nature of qualifying assets. Qualifying assets are loans to low-income borrowers with household annual income not exceeding ₹3 lakh (rural) or ₹3 lakh (urban/semi-urban), with loan amount limits and other specified conditions.
The minimum Net Owned Fund (NOF) requirement for NBFC-MFI is ₹5 crore (₹7 crore for entities operating in the North-Eastern region). This is lower than the ₹10 crore requirement for NBFC-ICC, making it relatively more accessible for entrepreneurs focused on serving the underserved population.
At IncorpX, we provide comprehensive NBFC-MFI Registration Services to help you establish a microfinance institution with RBI approval. Our team of experienced Chartered Accountants and regulatory experts has successfully registered over 50 microfinance companies across India.
What is NBFC-MFI?
NBFC-MFI is a non-deposit taking NBFC that has a minimum of 85% of its net assets in the form of qualifying assets. These institutions provide collateral-free loans to low-income households for income generation, housing, and other productive purposes.
Key characteristics of NBFC-MFI:
Qualifying Assets: 85% of net assets must be qualifying assets (microloans to low-income borrowers).
Income Limit: Borrower household income ≤ ₹3 lakh per annum.
Collateral-Free: Loans are typically provided without collateral.
What are Qualifying Assets?
Borrower Income:
Household annual income not exceeding ₹3,00,000.
Loan Amount:
First cycle ≤ ₹75,000; subsequent ≤ ₹1,25,000.
Loan Purpose:
70% must be for income generation activities.
Indebtedness:
Total indebtedness of borrower ≤ ₹1,25,000.
Important MFI Regulation!
NBFC-MFIs are governed by RBI's Master Direction for NBFC-MFI. The interest rate charged cannot exceed the cost of funds plus a margin cap. Failure to maintain 85% qualifying assets can result in reclassification to NBFC-ICC, requiring higher capital.
What Are the Key Features of Our NBFC-MFI Registration Service?
Our NBFC-MFI Registration Services are designed for successful RBI approval. Here's what makes IncorpX your ideal partner:
1. MFI Specialization
Dedicated expertise in microfinance regulations and NBFC-MFI specific requirements.
2. Qualifying Assets Guidance
Expert structuring to ensure 85% qualifying assets compliance from day one.
3. Business Plan
Comprehensive microfinance business plan as per RBI expectations.
4. Capital Planning
Guidance on ₹5 crore NOF requirement and fund source documentation.
5. SHG/JLG Framework
Assistance with Self-Help Group and Joint Liability Group lending models.
6. RBI Application
Complete application preparation and COSMOS portal submission.
7. Pricing Guidance
Interest rate structuring within RBI's margin cap guidelines.
8. Policy Framework
Fair Practice Code, recovery policy, and other required policies.
9. Query Handling
Expert response to RBI queries throughout the application process.
10. Post-Registration
Ongoing compliance support including returns and reporting.
Benefits of NBFC-MFI Registration in Vizag:
Starting an NBFC-MFI offers unique advantages for entrepreneurs committed to financial inclusion:
Social Impact
Create meaningful impact by providing financial services to underserved communities.
Lower Capital Requirement
Minimum NOF of ₹5 crore vs ₹10 crore for NBFC-ICC makes entry more accessible.
Bank Funding Access
MFI lending qualifies as Priority Sector, enabling easier bank borrowings.
Government Support
Access to various government schemes and programs for financial inclusion.
Group Lending Model
SHG/JLG models reduce default risk through peer pressure and collective guarantee.
Scalable Business
Proven business model with potential for significant scale and profitability.
Create impact through financial inclusion!
NBFC-MFI vs Other NBFC Categories:
Understanding the differences between NBFC-MFI and other categories helps choose the right structure:
Parameter
NBFC-MFI
NBFC-ICC
Minimum NOF
₹5 crore (₹7 crore in NE)
₹10 crore
Target Borrowers
Low-income households only
Any eligible borrowers
Loan Amount Limit
₹75,000 - ₹1,25,000
No upper limit
Collateral
Cannot take collateral
Can take collateral
Interest Rate
Margin cap applies
No margin cap
Priority Sector
Yes, qualifies
Depends on loan type
Qualifying Assets
85% mandatory
No such requirement
Eligibility Criteria for NBFC-MFI Registration in Vizag:
Company registered under Companies Act, 2013
Minimum Net Owned Fund of ₹5 crore
Objects clause permitting microfinance activities
Directors meeting fit and proper criteria
Clean CIBIL record of promoters
Experience in microfinance/banking sector preferred
Viable microfinance business plan
Adequate infrastructure for field operations
Complete Document Checklist for NBFC-MFI:
Proper documentation is critical for RBI approval. Here's the comprehensive checklist:
Fair Practice Code, Recovery Policy, Grievance Redressal, KYC Policy
NBFC-MFI Registration Process:
We follow a systematic approach for successful NBFC-MFI registration:
Step 1: Initial Consultation
We assess your microfinance vision, target geography, and determine if NBFC-MFI is the right structure for your goals.
Step 2: Company Setup
Incorporate a Private/Public Limited Company with microfinance-focused objects clause and proper capital structure.
Step 3: Capital Infusion
Guide the infusion of minimum ₹5 crore NOF with proper documentation of fund sources from promoters.
Step 4: Business Plan Development
Prepare comprehensive microfinance business plan covering SHG/JLG model, field operations, and growth projections.
Step 5: RBI Application
Submit complete application on RBI's COSMOS portal with all required documents and declarations.
Step 6: License Issuance
Handle RBI queries, provide clarifications, and obtain Certificate of Registration as NBFC-MFI.
Expert guidance for RBI approval!
Post-Registration Compliance for NBFC-MFI:
NBFC-MFIs have specific compliance requirements beyond regular NBFC norms:
Compliance
Requirement
Qualifying Assets
Maintain minimum 85% of net assets as qualifying assets
Pricing Transparency
Display all components of pricing in loan card
Margin Cap
Interest rate not exceeding cost of funds + margin cap
Processing Fee
Not exceeding 1% of loan amount
CIC Reporting
Report to Credit Information Companies
RBI Returns
NBS-1, NBS-2, NBS-3 and other periodic returns
Why Choose IncorpX for NBFC-MFI Registration in Vizag?
MFI Specialists: Deep expertise in microfinance regulations.
Track Record: 50+ successful MFI registrations.
100% Success: Zero rejection record with RBI.
Expert Team: CAs, CSs & microfinance specialists.
Complete Support: From incorporation to license.
Post-Registration: Ongoing compliance support.
FAQs on NBFC-MFI Registration
Starting a microfinance company involves specific regulatory requirements. We've compiled answers to help you understand the NBFC-MFI registration process.
These FAQs cover eligibility, qualifying assets, capital requirements, and compliance for microfinance institutions.
NBFC-MFI is a Non-Banking Financial Company - Micro Finance Institution. It's an RBI-registered entity that provides microfinance loans to low-income borrowers with at least 85% of its net assets being qualifying assets (microloans).
The minimum Net Owned Fund (NOF) for NBFC-MFI is ₹5 crore. For entities operating in the North-Eastern region, the requirement is ₹7 crore. This is lower than the ₹10 crore required for NBFC-ICC.
Qualifying assets are loans given to borrowers with household annual income not exceeding ₹3 lakh, loan amount ≤ ₹1.25 lakh, at least 70% for income generation, with tenure ≥ 24 months for loans > ₹30,000.
An NBFC-MFI must maintain at least 85% of its net assets in the form of qualifying assets. If this falls below 85%, the entity may be reclassified to NBFC-ICC, requiring higher capital of ₹10 crore.
For first cycle borrowers, the maximum loan is ₹75,000. For subsequent cycles, it's ₹1,25,000. The total indebtedness of a borrower cannot exceed ₹1,25,000 from all MFIs combined.
No. NBFC-MFIs cannot take any collateral for microfinance loans. This is to ensure truly collateral-free lending to the poor. Group guarantee through SHG/JLG model is commonly used instead.
SHG (Self-Help Group) and JLG (Joint Liability Group) are group lending models where members guarantee each other's loans. This reduces default risk and enables collateral-free lending to low-income borrowers.
NBFC-MFIs must follow RBI's margin cap guidelines. The interest rate cannot exceed the cost of funds plus a specified margin. Processing fees are capped at 1% of the loan amount.
NBFC-MFI registration typically takes 4-6 months from application to license. The timeline depends on completeness of application, RBI's processing, and query response time.
Yes. An existing NBFC-ICC can convert to NBFC-MFI by restructuring its portfolio to have 85% qualifying assets. The company must apply to RBI for change in category.
Banks' lending to NBFC-MFIs qualifies as Priority Sector Lending (PSL). This makes it easier for MFIs to raise funds from banks at relatively lower interest rates compared to other NBFCs.
RBI has strict guidelines on recovery. Coercive methods are prohibited. Recovery must be at central/designated places during normal hours. MFIs must have a board-approved recovery policy and grievance mechanism.
Yes. NBFC-MFIs must report all borrower data to Credit Information Companies (CICs) like CRIF High Mark. This helps prevent over-indebtedness by tracking borrower's total loans across MFIs.
Key documents include company incorporation documents, director KYCs, CA certificate for NOF (₹5 crore), business plan with SHG/JLG strategy, field operation details, and policies (FPC, recovery, KYC).
NGOs cannot directly become NBFCs. However, an NGO can promote a new company for NBFC-MFI registration. Many MFIs have evolved from NGO roots through this corporate transformation route.
MFIN (Microfinance Institutions Network) is the industry association of NBFC-MFIs. It's an RBI-recognized Self-Regulatory Organization (SRO). Membership provides industry representation and best practice guidance.
If an NBFC-MFI fails to maintain 85% qualifying assets, RBI may reclassify it as NBFC-ICC. This requires the entity to meet higher capital requirements (₹10 crore NOF) within the prescribed time.
Yes, MFIs can participate in various schemes like MUDRA refinance, NABARD's Microfinance Development Fund, and state-level schemes. Credit guarantee schemes also support MFI lending to micro-enterprises.
IncorpX's NBFC-MFI registration package starts at ₹39,999 (excluding government fees and capital). This includes complete application support, documentation, RBI liaison, and query handling.
Getting started is simple:
Contact us for initial consultation
We assess your microfinance vision and target area
