We give NBFC registration services in Digha at affordable price and within a limited grow old frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only agreement with registration or interest but we also allow after registration services at affordable prices that makes it simple for entities to start there performance in a hassle forgive manner.
WHAT IS A NBFC?
Non Banking Financial Company is just as soon as bank, registered below Companies Act of India and having a authentic license issued by the Reserve Bank of India. NBFCs are full of zip in the situation of loans, advances, accepting deposits, insurance, asset running and supplementary financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot tolerate following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot thing 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 obtain license for RBI for NBFC registration by yourself if its principal business involves financial activities. In order to surgically remove any obscurity the departments has clarified that for a company financial upheaval shall be considered as principal to-do if:
- Financial Assets contribute 50% or more of the total assets
- And income from financial assets contribute 50% or more of the total gross income.
This exam is popularly known as 50-50 test for NBFC.
COMPANIES INVOLVED IN FINANCIAL ACTIVITIES BUT ARE NOT LIABLE TO TAKE LICENSE OF NBFC FROM RBI:
Some companies lively in financial comings and goings are not required to apply for or purchase NBFC license form the Reserve Bank of India this is because of the fact that they are instinctive governed by further 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 functional in financial sector must have credited 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.