We give NBFC registration services in Bahadurpur at affordable price and within a limited epoch frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only treaty with registration or interest but we also provide after registration facilities at affordable prices that makes it easy for entities to start there operate in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just afterward bank, registered under Companies Act of India and having a authentic license issued by the Reserve Bank of India. NBFCs are functional in the concern of loans, advances, accepting deposits, insurance, asset meting out and other financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot bow to following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot matter cheque in its own name
- Depositors of NBFCs are not covered by depositors Insurance.
WHEN DOES A COMPANY BECOMES LIABLE TO APPLY FOR NBFC LICENSE?
A company is required to make a get your hands on of license for RBI for NBFC registration unaided if its principal matter involves financial activities. In order to cut off any inscrutability the departments has clarified that for a company financial commotion shall be considered as principal bustle if:
- Financial Assets contribute 50% or more of the total assets
- And allowance from financial assets contribute 50% or more of the total terrifying income.
This exam is popularly known as 50-50 exam for NBFC.
COMPANIES INVOLVED IN FINANCIAL ACTIVITIES BUT ARE NOT LIABLE TO TAKE LICENSE OF NBFC FROM RBI:
Some companies working in financial endeavors are not required to apply for or get devotion of NBFC license form the Reserve Bank of India this is because of the fact that they are beast governed by other laws or enactments. Some of these companies are:
- NIDHI Company – Regulated by Companies Act, 2013
- Housing Finance Companies – Regulated by the National Housing Bank
- Mutual Funds – Regulated by Securities and Exchange Board of India
- Insurance Companies – Regulated by Insurance Regulatory and Development Authority of India (IRDA)
- Stock Broking – Regulated by Securities and Exchange Board of India
ELEGIBILITY CRITERIA FOR APPLYING FOR A NBFC LICENSE IN INDIA.
- The entity must be a company either Private Limited or Public Limited registered under Companies Act, 2013.
- Company if already functioning in financial sector must have attributed 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.