We present NBFC registration services in Khusrupur at affordable price and within a limited times frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only deal with registration or combination but we also find the maintenance for after registration services at affordable prices that makes it simple for entities to Begin there operate in a hassle forgive manner.
WHAT IS A NBFC?
Non Banking Financial Company is just gone bank, registered under Companies Act of India and having a legitimate license issued by the Reserve Bank of India. NBFCs are working in the matter of loans, advances, accepting deposits, insurance, asset dealing out and supplementary 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 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 make a get of license for RBI for NBFC registration solitary if its principal event involves financial activities. In order to separate any vagueness the departments has clarified that for a company financial ruckus shall be considered as principal activity if:
- Financial Assets contribute 50% or more of the sum assets
- And pension 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 full of life in financial goings-on are not required to apply for or get union of NBFC license form the Reserve Bank of India this is because of the fact that they are swine governed by additional 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 enthusiastic in financial sector must have official 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.