We offer NBFC registration services in Namkum at affordable price and within a limited mature frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only treaty with registration or concentration but we also offer after registration facilities at affordable prices that makes it simple for entities to start there do its stuff in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just behind bank, registered under Companies Act of India and having a real license issued by the Reserve Bank of India. NBFCs are in force in the business of loans, advances, accepting deposits, insurance, asset direction and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot take on following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot event 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 gain license for RBI for NBFC registration isolated if its principal business involves financial activities. In order to separate any mystery the departments has clarified that for a company financial objection shall be considered as principal excitement 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 effective in financial goings-on 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 subconscious 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 below Companies Act, 2013.
- Company if already vigorous in financial sector must have attributed 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.