We give NBFC registration facilities in Gandhi Maidan 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 captivation but we also present after registration services at affordable prices that makes it easy for entities to Begin there statute in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just later than bank, registered under Companies Act of India and having a legal license issued by the Reserve Bank of India. NBFCs are practicing in the situation of loans, advances, accepting deposits, insurance, asset government and additional financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot receive following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot concern 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 get license for RBI for NBFC registration deserted if its principal business involves financial activities. In order to surgically remove any obscurity the departments has clarified that for a company financial bother shall be considered as principal activity if:
- Financial Assets contribute 50% or more of the sum assets
- And pension from financial assets contribute 50% or more of the total terrifying income.
This test 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 working in financial deeds are not required to apply for or come by NBFC license form the Reserve Bank of India this is because of the fact that they are monster governed by extra 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 below Companies Act, 2013.
- Company if already functioning in financial sector must have approved 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.