We present NBFC registration services in Agamkuan at affordable price and within a limited become old frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only pact with registration or concentration but we also pay for after registration services at affordable prices that makes it easy for entities to start there doing in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just bearing in mind bank, registered under Companies Act of India and having a genuine license issued by the Reserve Bank of India. NBFCs are working in the issue of loans, advances, accepting deposits, insurance, asset executive and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot say you will following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot issue 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 linkage of license for RBI for NBFC registration on your own if its principal situation involves financial activities. In order to cut off any inscrutability the departments has clarified that for a company financial bother shall be considered as principal to-do 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 exam 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 committed in financial deeds 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 bodily 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 below Companies Act, 2013.
- Company if already on the go in financial sector must have credited 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.