We have enough money NBFC registration facilities in Postal Park 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 settlement with registration or incorporation but we also allow after registration facilities at affordable prices that makes it easy for entities to Begin there law in a hassle release 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 energetic in the business of loans, advances, accepting deposits, insurance, asset executive and extra financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot take following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot concern 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 sticking to of license for RBI for NBFC registration and no-one else if its principal issue involves financial activities. In order to sever any secrecy 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 allowance 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 enthusiastic in financial goings-on are not required to apply for or buy NBFC license form the Reserve Bank of India this is because of the fact that they are swine 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 under Companies Act, 2013.
- Company if already practicing 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.