We have enough money NBFC registration facilities in Muzaffarpur 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 harmony with registration or concentration but we also present after registration services at affordable prices that makes it simple for entities to Begin there conduct yourself in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just following bank, registered below Companies Act of India and having a valid license issued by the Reserve Bank of India. NBFCs are keen in the issue of loans, advances, accepting deposits, insurance, asset organization and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot take following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot concern 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 license for RBI for NBFC registration by yourself if its principal matter involves financial activities. In order to sever any obscurity the departments has clarified that for a company financial to-do shall be considered as principal bustle if:
- Financial Assets contribute 50% or more of the sum assets
- And allowance 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 effective in financial deeds are not required to apply for or get NBFC license form the Reserve Bank of India this is because of the fact that they are visceral governed by additional 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 operational in financial sector must have certified 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.