For those of you not yet acquainted with what an FSSAI is, it stands for “Financial Services Standards Association of India” and it is a self-regulatory organization responsible for overseeing the Indian financial sector.
The government has recently decided to transform the FSSAI Registration into a statutory body and this means that come April 1st 2020, all players in the Indian financial sector will be required to register with this organization.
There are a number of requirements that you need to follow in order to be able to register with FSSAI.
To begin with, you must have an active business/establishment registered with the Registrar of Companies. This should include all offices, branches, subsidiaries, and other such entities. Also included should be any entities (incorporated or otherwise) that are incorporated in foreign countries and wished to operate in India. As well as the individuals, that are involved with these entities.
It is vital to note that the registration process with FSSAI is not meant for individuals, but for businesses and certainly not households.
You will also need to provide your personal information such as your PAN number, name and address of the company/entity you wish to register with FSSAI and also the proof of identity (in the form of a certified copy of your valid PAN card).
The main purpose behind this registration is that it allows FSSAI to ensure that all companies operating in India adhere to certain guidelines. This is meant to protect consumers. There are certain requirements that must be met by all companies and individuals in the financial sector. The registration process with FSSAI is the first step in enforcing this.
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This will also allow FSSAI to share pertinent information with the Central Government and other agencies which can help in solving cases of financial fraud. This will also aid them in preventing such situations from occurring.
If you are interested in registering with FSSAI, the process is relatively simple. The first step that one must go through is to submit the application to their website (fssai.gov.in). A link will be sent to you once your application has been submitted and you can pay via a variety of different methods (including debit/credit cards).
The next step will be for them to verify your information and then issue a confirmation number prior to proceeding further.
Once this is done, you will be required to pay a fee for the registration. The fee can be paid by credit/debit card or via net banking. Once this has been paid and verified, FSSAI will generate a registration number for you and that’s it! You are now registered with them and ready to comply with all guidelines regarding their regulations.