We give NBFC registration services in Khagaul at affordable price and within a limited era frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only agreement with registration or engagement but we also find the grant for after registration facilities at affordable prices that makes it easy for entities to start there conduct yourself in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just behind bank, registered under Companies Act of India and having a authenticated license issued by the Reserve Bank of India. NBFCs are in action in the business of loans, advances, accepting deposits, insurance, asset doling out and supplementary financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot acknowledge following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot issue 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 come by license for RBI for NBFC registration lonesome if its principal matter involves financial activities. In order to surgically remove any vagueness the departments has clarified that for a company financial protest shall be considered as principal bother if:
- Financial Assets contribute 50% or more of the total assets
- And allowance 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 enthusiastic in financial endeavors are not required to apply for or attain NBFC license form the Reserve Bank of India this is because of the fact that they are inborn governed by new 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 committed in financial sector must have approved 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.