FFMC authorisation framework sets eligibility, net owned funds, fit and proper standards, and documentation requirements for applicants. Fresh authorisation as an FFMC is available only to a company registered under the Companies Act, 1956, the Companies Act, 2013, or the Registration of Companies (Sikkim) Act, 1961, subject to minimum Net Owned Funds requirements and prescribed calculations for non-bank applicants. The applicant and its directors must satisfy fit and proper criteria, including due diligence on integrity, criminal record, financial position, professional sanctions, and related factors, with disqualification where enforcement or criminal proceedings are pending. The application must be supported by specified incorporation, financial, banker, declaration, KYC, related-entity, and board-resolution documents.