We present NBFC registration facilities in Sachivalaya 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 raptness but we also manage to pay for after registration facilities at affordable prices that makes it easy for entities to start there behave in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just with bank, registered under Companies Act of India and having a legal license issued by the Reserve Bank of India. NBFCs are lively in the situation of loans, advances, accepting deposits, insurance, asset giving out and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot tolerate 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 gain license for RBI for NBFC registration deserted if its principal thing involves financial activities. In order to cut off any inscrutability 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 income from financial assets contribute 50% or more of the total terrifying 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 practicing in financial events 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 beast 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 under Companies Act, 2013.
- Company if already in force in financial sector must have endorsed 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.