We give NBFC registration facilities in Bhabua 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 treaty with registration or concentration but we also present after registration services at affordable prices that makes it easy for entities to start there perform in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just in imitation of bank, registered below Companies Act of India and having a authenticated license issued by the Reserve Bank of India. NBFCs are working in the concern of loans, advances, accepting deposits, insurance, asset processing and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot agree to following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot event 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 abandoned if its principal thing involves financial activities. In order to separate any inscrutability the departments has clarified that for a company financial commotion shall be considered as principal bother 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 test for NBFC.
COMPANIES INVOLVED IN FINANCIAL ACTIVITIES BUT ARE NOT LIABLE TO TAKE LICENSE OF NBFC FROM RBI:
Some companies working in financial activities 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 creature 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 operational in financial sector must have attributed 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.