We give NBFC registration facilities in Saligpur at affordable price and within a limited get older 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 give after registration services at affordable prices that makes it simple for entities to Begin there appear in 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 genuine license issued by the Reserve Bank of India. NBFCs are practicing in the concern of loans, advances, accepting deposits, insurance, asset dealing out and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot assume following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot matter 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 lonesome if its principal event involves financial activities. In order to surgically remove any inscrutability the departments has clarified that for a company financial argument shall be considered as principal argument if:
- Financial Assets contribute 50% or more of the sum assets
- And income from financial assets contribute 50% or more of the total gross 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 enthusiastic in financial comings and goings are not required to apply for or obtain NBFC license form the Reserve Bank of India this is because of the fact that they are mammal governed by further 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 effective in financial sector must have attributed 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.