We pay for NBFC registration services in Punpun at affordable price and within a limited grow old frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only agreement with registration or combination but we also allow after registration services at affordable prices that makes it easy for entities to start there affect in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just later bank, registered under Companies Act of India and having a authentic license issued by the Reserve Bank of India. NBFCs are energetic in the business of loans, advances, accepting deposits, insurance, asset direction and extra 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 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 lonely if its principal issue involves financial activities. In order to sever any ambiguity the departments has clarified that for a company financial upheaval shall be considered as principal to-do if:
- Financial Assets contribute 50% or more of the total assets
- And pension 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 involved in financial goings-on 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 instinctive governed by other 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 working in financial sector must have ascribed 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.