How do I start an NBFC or a lending company in India?

To lend as a business in India you need the RBI's Certificate of Registration as an NBFC, and a new applicant must have net owned funds of Rs 10 crore from day one (Rs 2 crore only for peer-to-peer lending platforms and account aggregators). The steps: incorporate a company with lending in its objects, bring in the Rs 10 crore as clean, traceable equity, and apply on the RBI's PRAVAAH portal with a business plan, fit-and-proper declarations and the source of every rupee. The RBI charges no fee, a realistic wait is four to twelve months, and rejection is a real risk; you cannot lend before the certificate arrives. Without Rs 10 crore, the honest routes are to partner with a bank or NBFC as a lending service provider under the RBI's digital lending rules, or to start as a loan distributor. This is regulated well beyond a first-time founder's usual reach, and what kills most new lenders is bad loans and weak collections rather than the licence.