Main Object Clauses

  1. To carry on the business of developing, operating and licensing financial technology software and platforms, including payment gateways, digital wallets infrastructure, neo-banking technology layers, peer-to-peer transaction systems, lending origination and servicing platforms, and related application programming interfaces.
  2. To provide technology services, software-as-a-service solutions, data analytics, risk scoring, fraud detection and compliance automation tools to banks, non-banking financial companies, payment system operators and other regulated financial entities.
  3. To carry on the business of financial consultancy, product development and system integration in the payments, lending, insurance and wealth technology domains, subject to all applicable laws and regulatory approvals.
  4. To develop and deal in digital financial products and platforms, including account aggregation technology, KYC and onboarding solutions, and embedded finance infrastructure, and to act as technology service providers and business correspondents’ technology partners where permitted by law.

NIC Code: 62/63 — Computer programming and information service activities (technology layer; regulated financial activities need separate RBI authorisation)

Related Licences & Registrations

  • RBI Authorisation: Any payment aggregation, PPI issuance or lending activity needs specific RBI approval — the MOA alone does not authorise it.
  • PCI-DSS Compliance: Mandatory if the platform stores, processes or transmits card data.
  • DPIIT Startup Recognition: Useful for regulatory sandbox access and easier compliance.
  • ISO 27001 Certification: Practically required by bank and NBFC partners before they integrate with your platform.

ROC Filing Notes

  • This is the highest-scrutiny category on this list: MCA will read fintech objects carefully. Frame the company as a technology provider to financial institutions, not as a lender or payment operator, unless you already hold the RBI licence — claiming regulated activities without authorisation is a certain resubmission.
  • Add the phrase “subject to applicable laws and regulatory approvals” to every clause touching payments or lending; it signals awareness and reduces queries.
  • Do not use words like “bank”, “banking” or “NBFC” in the company name without RBI clearance — the name approval (RUN/SPICe+) will be rejected outright.