In today’s competitive market, ensuring product quality and consumer safety is not just good practice—it’s a legal requirement. The Bureau of Indian Standards (BIS) plays a key role in setting quality benchmarks in India through its BIS certification and compliance system.

What is BIS Compliance?
BIS Compliance refers to meeting the requirements set by the Bureau of Indian Standards under various schemes such as:

ISI Mark Certification – For industrial and consumer products.

Compulsory Registration Scheme (CRS) – For electronic and IT goods.

Hallmark registration – For gold and silver articles.

Products falling under mandatory certification schemes must be tested and approved by BIS before being sold in the Indian market.

Key BIS Compliance Requirements
Product Testing
Products must be tested in BIS-recognized labs to meet the prescribed Indian Standards.

Application Submission
Businesses need to apply with all required documents including factory details, test reports, and product specifications.

Factory Inspection (for ISI Scheme)
BIS officials may inspect the manufacturing unit to ensure quality systems are in place.

Grant of License
Once all conditions are met, BIS grants a license or registration to use the ISI mark or CRS label.

Regular Surveillance
After licensing, BIS conducts regular audits and sample tests to ensure ongoing compliance.

Why is BIS Compliance Important?
Ensures Product Safety and Reliability

Builds Consumer Trust

Mandatory for Market Access (India)

Avoids Legal Penalties and Seizures

Conclusion
BIS compliance is a must for manufacturers, importers, and traders wanting to sell specific products in India. It not only ensures safety and quality but also builds brand reputation. If you're looking to apply for BIS registration online, Corpbiz can guide you through every step—right from documentation to testing and certification.

FAQs

Q1. Is BIS compliance mandatory?
Yes, for products listed under mandatory certification schemes.

Q2. How long does BIS certification take?
It usually takes 4–6 weeks, depending on product type and inspection results.

Q3. Can foreign manufacturers apply for BIS registration?
Yes, through an Authorized Indian Representative (AIR).

Need help with BIS Registration?
Connect with Corpbiz Experts and ensure smooth BIS compliance for your products.

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Non-Banking Financial Companies (NBFCs) play a key role in strengthening India’s financial ecosystem. They offer loans, investments, asset financing, and other financial services, especially to sectors underserved by traditional banks. However, NBFCs must follow strict compliance requirements regulated by the Reserve Bank of India (RBI) to ensure financial stability, transparency, and trust.

Key NBFC Compliance Requirements

1. RBI Registration
   Every NBFC must register with the RBI under the RBI Act, 1934, and obtain a Certificate of Registration (CoR) before commencing operations. Minimum net owned funds (NOF) of ₹2 crores are required.

2. KYC and AML Norms
   NBFCs must adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines to verify customer identity and prevent illegal financial activities.

3. Periodic Returns
   NBFCs are required to file various returns such as:

NBS-1: Quarterly return on financial indicators

NBS-2: Quarterly return on Prudential Norms

NBS-9: Annual return for NBFCs not accepting public deposits

These returns help RBI monitor the performance and risk exposure of NBFCs.

1. Audited Financial Statements
   NBFCs must prepare and file audited financial statements annually. They must comply with Indian Accounting Standards (Ind AS) and maintain proper books of accounts.

2. Statutory Auditor Certificate
   A certificate from a statutory auditor confirming the company is not accepting public deposits beyond the permissible limit is mandatory.

3. Credit Rating
   Loan and investment NBFCs must obtain a credit rating if they accept public deposits to indicate their financial health to investors and customers.

4. Fair Practice Code
   NBFCs are expected to adopt a Fair Practice Code (FPC) to promote transparent dealings with customers, including loan terms, grievance redressal, and data privacy.

5. Corporate Governance Norms
   Larger NBFCs, especially those classified as NBFC-ND-SI (Systemically Important), must follow enhanced governance norms such as board oversight, risk management policies, and internal audits.

Final Words
NBFC compliance is essential for legal operations, investor confidence, and customer trust. Staying updated with the latest RBI guidelines and adopting good governance practices ensures smooth and sustainable functioning.

Need Help with NBFC Compliance?
Team Corpbiz offers complete assistance—from NBFC registration to ongoing regulatory compliance. Connect with us today to ensure your NBFC remains fully compliant and growth-ready!