We provide NBFC registration facilities in Gardanibag at affordable price and within a limited grow old frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only concurrence with registration or raptness but we also come taking place with the child support for after registration services at affordable prices that makes it easy for entities to start there ham it up in a hassle clear 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 operating in the business of loans, advances, accepting deposits, insurance, asset direction and additional financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot consent following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot business 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 on your own if its principal business involves financial activities. In order to separate any obscurity the departments has clarified that for a company financial to-do shall be considered as principal commotion if:
- Financial Assets contribute 50% or more of the sum assets
- And income from financial assets contribute 50% or more of the total terrifying 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 operating in financial actions are not required to apply for or get your hands on NBFC license form the Reserve Bank of India this is because of the fact that they are physical governed by new 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 working in financial sector must have recognized 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.