We offer NBFC registration facilities in Fraser Road 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 concurrence with registration or immersion but we also present after registration services at affordable prices that makes it easy for entities to Begin there play a role in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just in the heavens of bank, registered under Companies Act of India and having a authentic license issued by the Reserve Bank of India. NBFCs are operational in the issue of loans, advances, accepting deposits, insurance, asset government 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 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 attain license for RBI for NBFC registration lonely if its principal situation involves financial activities. In order to sever any ambiguity the departments has clarified that for a company financial to-do shall be considered as principal argument 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 test for NBFC.
COMPANIES INVOLVED IN FINANCIAL ACTIVITIES BUT ARE NOT LIABLE TO TAKE LICENSE OF NBFC FROM RBI:
Some companies full of life in financial activities 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 inborn 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 below Companies Act, 2013.
- Company if already practicing in financial sector must have endorsed 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.