We present NBFC registration services in Samastipur at affordable price and within a limited times frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only unity with registration or combination but we also pay for after registration services at affordable prices that makes it easy for entities to Begin there take action in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just bearing in mind bank, registered under Companies Act of India and having a authenticated license issued by the Reserve Bank of India. NBFCs are operating in the thing of loans, advances, accepting deposits, insurance, asset dealing out and supplementary financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot believe following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot business 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 without help if its principal thing involves financial activities. In order to remove any vagueness the departments has clarified that for a company financial argument shall be considered as principal ruckus 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 test for NBFC.
COMPANIES INVOLVED IN FINANCIAL ACTIVITIES BUT ARE NOT LIABLE TO TAKE LICENSE OF NBFC FROM RBI:
Some companies functional in financial undertakings are not required to apply for or attain NBFC license form the Reserve Bank of India this is because of the fact that they are living thing 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 committed 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.