We give NBFC registration facilities in Siwan 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 settlement with registration or combination but we also provide after registration facilities at affordable prices that makes it simple for entities to Begin there con in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just past bank, registered under Companies Act of India and having a true license issued by the Reserve Bank of India. NBFCs are involved in the concern of loans, advances, accepting deposits, insurance, asset giving out and new 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 thing 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 obtain license for RBI for NBFC registration without help if its principal matter involves financial activities. In order to remove any ambiguity the departments has clarified that for a company financial bustle shall be considered as principal commotion if:
- Financial Assets contribute 50% or more of the total assets
- And pension from financial assets contribute 50% or more of the total terrifying income.
This exam 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 comings and goings are not required to apply for or get union of NBFC license form the Reserve Bank of India this is because of the fact that they are living thing governed by additional 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 energetic in financial sector must have qualified 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.