We have the funds for NBFC registration services in Khelari 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 unity with registration or captivation but we also give after registration services at affordable prices that makes it easy for entities to start there appear in in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just subsequent to bank, registered under Companies Act of India and having a genuine license issued by the Reserve Bank of India. NBFCs are committed in the concern of loans, advances, accepting deposits, insurance, asset meting out and additional financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot understand following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot event 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 come by of license for RBI for NBFC registration isolated if its principal issue involves financial activities. In order to sever any obscurity the departments has clarified that for a company financial objection shall be considered as principal excitement if:
- Financial Assets contribute 50% or more of the total assets
- And pension 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 involved in financial events are not required to apply for or obtain NBFC license form the Reserve Bank of India this is because of the fact that they are visceral 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 below Companies Act, 2013.
- Company if already in action in financial sector must have qualified 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.