We offer NBFC registration services in Bokaro 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 interest but we also have enough money after registration services at affordable prices that makes it simple for entities to start there do something in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just similar to bank, registered below Companies Act of India and having a legitimate license issued by the Reserve Bank of India. NBFCs are full of zip in the business of loans, advances, accepting deposits, insurance, asset running and additional 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 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 make a get hold of of license for RBI for NBFC registration forlorn if its principal concern involves financial activities. In order to remove any ambiguity the departments has clarified that for a company financial objection shall be considered as principal excitement 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 in action in financial endeavors 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 inborn 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 effective in financial sector must have qualified 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.