Please find below the categorisation of the annual membership fee:
| Sl. No. | Entity type | Regulator | Criteria | Category A | Category B | Category C |
|---|---|---|---|---|---|---|
| 1 | NBFCs, including HFCs | Reserve Bank of India (“RBI”) | RBI categorization (Upper, Middle, Base) | Upper layer | Middle layer | Base layer |
| 2 | Banks (Private Sector, Public Sector, Foreign and Small Finance) | RBI | Asset Size (in INR – crores) | > 10,00,000 | 50,000 – 10,00,000 | < 50,000 |
| 3 | Private and Public Sector Life Insurance | Insurance Regulatory and Development Authority of India (“IRDAI”) | First-Year Premium (in INR – crores) | > 10,000 | 1,000 – 10,000 | < 1,000 |
| 4 | Private and Public Sector Non-Life and Health Insurance | IRDAI | Gross Direct Premium Underwritten (in INR – crores) | > 5,000 | 1,000 – 5,000 | < 1,000 |
| 5 | Insurance Broker/Corporate Agent/Insurance Marketing Firm/Web Aggregator | IRDAI | Revenue (in INR – crores) | > 100 | 20 – 100 | < 20 |
| 6 | Stock Brokers/Depository Participant | Securities and Exchange Board of India (“SEBI”) | Revenue (in INR – crores) | > 5,000 | 1,000 – 5,000 | < 1,000 |
| 7 | Registered Investment Adviser (IA) | SEBI | Revenue (in INR – crores) | > 50 | 25 – 50 | < 25 |
| 8 | Portfolio Manager (PM) | SEBI | AUM* (in INR – crores) | > 5,000 | 1,000 – 5,000 | < 1,000 |
| 9 | Asset Management Company (AMC) | SEBI | AAUM** (in INR – crores) | > 1,50,000 | 50,000 – 1,50,000 | < 50,000 |
* AUM: Assets Under Management
** AAUM: Average Assets Under Management calculated as an average of the quarter-end computation over the previous four calendar quarters preceding the date of submission of the application to Sahamati.
Note: All revenues/financial data should be calculated as per the latest available audited annual financial statements.
All NBFC-AAs shall be classified under Fee Category B.
The following entities shall be classified under Fee Category C:
| Sl. No. | Entity type | Regulator |
|---|---|---|
| 1 | Authorised Dealer – Category II (AD-II) | RBI |
| 2 | Credit Rating Agency (CRA) | SEBI |
| 3 | Point of Presence (PoP) | Pension Fund Regulatory and Development Authority (“PFRDA”) |
| 4 | Research Analyst | SEBI |
| 5 | Alternative Investment Fund (AIF) | SEBI |
| 6 | Trade Receivables Discounting System (TReDS) | RBI |
| 7 | Cooperative Bank | RBI |
| 8 | Depository | SEBI |
| 9 | Prepaid Payment Instrument (PPI) Issuer | RBI |
| 10 | Regional Rural Bank (RRB) | RBI |
| 11 | All India Financial Institution (NABARD, SIDBI, EXIM Bank, NHB) | RBI |
| 12 | Registrar and Transfer Agent (RTA) | SEBI |
