We provide NBFC registration facilities in Bakhtiyarpur 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 agreement with registration or captivation but we also offer after registration services at affordable prices that makes it easy for entities to start there play a role in a hassle clear manner.
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 enthusiastic in the thing of loans, advances, accepting deposits, insurance, asset government and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot agree to following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot matter 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 obtain license for RBI for NBFC registration forlorn if its principal business involves financial activities. In order to surgically remove any vagueness the departments has clarified that for a company financial to-do shall be considered as principal protest 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 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 lively in financial actions are not required to apply for or purchase NBFC license form the Reserve Bank of India this is because of the fact that they are swine governed by other 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 on the go in financial sector must have credited 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.