We offer NBFC registration services in Indrapuri Colony at affordable price and within a limited epoch frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only settlement with registration or fascination but we also give after registration services at affordable prices that makes it simple for entities to start there function in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just in the same way as bank, registered below Companies Act of India and having a true license issued by the Reserve Bank of India. NBFCs are on the go in the thing of loans, advances, accepting deposits, insurance, asset supervision and extra financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot give a approving response following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot thing 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 purchase license for RBI for NBFC registration without help if its principal issue involves financial activities. In order to separate any ambiguity the departments has clarified that for a company financial argument shall be considered as principal ruckus if:
- Financial Assets contribute 50% or more of the sum assets
- And income 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 practicing in financial deeds are not required to apply for or gain NBFC license form the Reserve Bank of India this is because of the fact that they are subconscious 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 below Companies Act, 2013.
- Company if already full of life in financial sector must have certified 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.