We offer NBFC registration facilities in Jamtara 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 harmony with registration or captivation but we also pay for after registration services at affordable prices that makes it simple for entities to start there feint in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just later than bank, registered below Companies Act of India and having a valid license issued by the Reserve Bank of India. NBFCs are full of zip in the event of loans, advances, accepting deposits, insurance, asset presidency and supplementary financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot understand following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot situation 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 get your hands on license for RBI for NBFC registration by yourself if its principal issue involves financial activities. In order to remove any mystery 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 total assets
- And income 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 on the go 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 brute 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 in action in financial sector must have qualified 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.