We have the funds for NBFC registration services in Pithoria at affordable price and within a limited time frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only pact with registration or captivation but we also find the keep for after registration facilities at affordable prices that makes it easy for entities to start there perform in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just subsequently bank, registered below Companies Act of India and having a genuine license issued by the Reserve Bank of India. NBFCs are functional in the concern of loans, advances, accepting deposits, insurance, asset running and other financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot acknowledge following transactions as prohibited 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 get license for RBI for NBFC registration forlorn if its principal situation involves financial activities. In order to remove any secrecy the departments has clarified that for a company financial bother shall be considered as principal commotion if:
- Financial Assets contribute 50% or more of the sum assets
- And allowance from financial assets contribute 50% or more of the total gross income.
This test 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 committed in financial actions are not required to apply for or buy NBFC license form the Reserve Bank of India this is because of the fact that they are living thing 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 effective in financial sector must have credited 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.