We offer NBFC registration services in Pakur 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 agreement with registration or immersion but we also manage to pay for after registration services at affordable prices that makes it easy for entities to Begin there put it on in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just behind bank, registered below Companies Act of India and having a genuine license issued by the Reserve Bank of India. NBFCs are lively in the thing of loans, advances, accepting deposits, insurance, asset running and further 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 accept 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 get grip of license for RBI for NBFC registration by yourself if its principal thing involves financial activities. In order to remove any secrecy the departments has clarified that for a company financial to-do shall be considered as principal activity if:
- Financial Assets contribute 50% or more of the sum assets
- And allowance from financial assets contribute 50% or more of the total terrifying income.
This test 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 full of zip in financial events are not required to apply for or make a purchase of NBFC license form the Reserve Bank of India this is because of the fact that they are monster 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 lively 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.