We find the keep for NBFC registration facilities in Madhepura 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 deal with registration or concentration but we also come occurring with the child support for after registration services at affordable prices that makes it simple for entities to start there sham in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just subsequently bank, registered below Companies Act of India and having a true license issued by the Reserve Bank of India. NBFCs are enthusiastic in the situation of loans, advances, accepting deposits, insurance, asset organization and new 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 accept demand deposits.
- NBFC cannot matter 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 deserted if its principal issue involves financial activities. In order to sever any inscrutability the departments has clarified that for a company financial bother shall be considered as principal excitement if:
- Financial Assets contribute 50% or more of the sum assets
- And pension from financial assets contribute 50% or more of the total gross 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 effective in financial undertakings 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 brute governed by supplementary 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 full of zip in financial sector must have certified 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.