We manage to pay for NBFC registration facilities in Rajeev Nagar 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 deal with registration or captivation but we also manage to pay for after registration facilities at affordable prices that makes it easy for entities to Begin there measure in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just later than bank, registered under Companies Act of India and having a valid license issued by the Reserve Bank of India. NBFCs are operating in the concern of loans, advances, accepting deposits, insurance, asset doling out and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot take following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot accept 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 attain license for RBI for NBFC registration without help if its principal event involves financial activities. In order to separate any secrecy the departments has clarified that for a company financial commotion shall be considered as principal argument if:
- Financial Assets contribute 50% or more of the total assets
- And allowance 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 working in financial undertakings are not required to apply for or attain NBFC license form the Reserve Bank of India this is because of the fact that they are bodily 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 vigorous in financial sector must have credited 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.