We give NBFC registration services in Phulwarisharif at affordable price and within a limited time frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only pact with registration or incorporation but we also have the funds for after registration facilities at affordable prices that makes it simple for entities to Begin there play-act in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just in the tune of bank, registered below Companies Act of India and having a valid license issued by the Reserve Bank of India. NBFCs are committed in the business of loans, advances, accepting deposits, insurance, asset management and new 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 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 your hands on license for RBI for NBFC registration only if its principal matter involves financial activities. In order to sever any obscurity the departments has clarified that for a company financial bustle shall be considered as principal to-do 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 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 come by NBFC license form the Reserve Bank of India this is because of the fact that they are being 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 force in financial sector must have approved 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.