We present NBFC registration facilities in Motihari at affordable price and within a limited get older 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 come stirring with the allowance for after registration services at affordable prices that makes it easy for entities to Begin there comport yourself 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 real license issued by the Reserve Bank of India. NBFCs are lively in the situation of loans, advances, accepting deposits, insurance, asset management and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot receive following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot situation 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 and no-one else if its principal situation involves financial activities. In order to remove any ambiguity the departments has clarified that for a company financial argument shall be considered as principal bustle if:
- Financial Assets contribute 50% or more of the total assets
- And income 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 lively in financial undertakings are not required to apply for or get NBFC license form the Reserve Bank of India this is because of the fact that they are creature governed by additional 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 involved in financial sector must have ascribed 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.