We provide NBFC registration facilities in Biharsharif at affordable price and within a limited period frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only treaty with registration or assimilation but we also present after registration facilities at affordable prices that makes it simple for entities to Begin there action in a hassle free manner.
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WHAT IS A NBFC?
Non Banking Financial Company is just considering bank, registered below Companies Act of India and having a legitimate license issued by the Reserve Bank of India. NBFCs are dynamic in the business of loans, advances, accepting deposits, insurance, asset organization and other 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 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 come by license for RBI for NBFC registration by yourself if its principal business involves financial activities. In order to sever any obscurity the departments has clarified that for a company financial activity 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 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 working in financial goings-on 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 being 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 below Companies Act, 2013.
- Company if already functional in financial sector must have ascribed 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.