We give NBFC registration services in Kankarbagh at affordable price and within a limited period frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only pact with registration or combination but we also come going on with the grant for after registration services at affordable prices that makes it easy for entities to start there feign in a hassle forgive manner.
WHAT IS A NBFC?
Non Banking Financial Company is just taking into consideration bank, registered below Companies Act of India and having a valid license issued by the Reserve Bank of India. NBFCs are functioning in the event of loans, advances, accepting deposits, insurance, asset dispensation and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot put up with 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 come by license for RBI for NBFC registration on your own if its principal event involves financial activities. In order to cut off any vagueness the departments has clarified that for a company financial protest shall be considered as principal bustle 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 test for NBFC.
COMPANIES INVOLVED IN FINANCIAL ACTIVITIES BUT ARE NOT LIABLE TO TAKE LICENSE OF NBFC FROM RBI:
Some companies practicing in financial goings-on 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 swine governed by further 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 approved 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.