Format pack, 3 formats · FV08-K1

When a Company Becomes an NBFC, The Principal Business Test

How to tell whether a client that lends, invests or parks money has become a non-banking financial company that needs RBI registration, and what to do before the balance sheet answers the question for it.

Length
5 pages
Blanks to fill
87
Files
Word and PDF
Law stated to
16 September 2026

The 3 formats inside

  1. 1Principal business test, working sheetRBI Act s.45-I · NBFC Registration Directions 2025 para 3846 blanksOn its own₹149
  2. 2Board note, NBFC registration riskRBI Act ss.45-I, 45-IA, 58B · CARO 3(xvi)25 blanksOn its own₹149
  3. 3Management representation to the statutory auditor on CARO para 3(xvi)CARO 2020 · RBI Act s.45-IA22 blanksOn its own₹149

Read the opening

The first part of “Principal business test, working sheet”, as it downloads. Blanks are highlighted.

[Name of the firm] working paper — to be retained on the permanent file and attached to the Board note

PRINCIPAL BUSINESS TEST (50-50 TEST) AND NBFC STATUS

Company: [Company's name] CIN: [Company's CIN] Financial year ended: [31.03.YYYY]
Accounts used: [Audited / Draft / Management accounts as at DD.MM.YYYY] Framework: [Ind AS / AS]

7 more paragraphs and tables follow in the full format.

More in RBI, FEMA & Cross-border