We find the money for NBFC registration services in Sheohar 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 treaty with registration or combination but we also present after registration facilities at affordable prices that makes it simple for entities to start there appear in in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just next bank, registered below Companies Act of India and having a legitimate license issued by the Reserve Bank of India. NBFCs are working in the business of loans, advances, accepting deposits, insurance, asset management and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot allow following transactions as prohibited 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 your hands on license for RBI for NBFC registration single-handedly if its principal issue involves financial activities. In order to remove any mystery the departments has clarified that for a company financial bother shall be considered as principal to-do 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 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 functional in financial events 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 bodily governed by extra 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 vigorous in financial sector must have approved 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.