We give NBFC registration services in Bettiah 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 agreement with registration or engagement but we also manage to pay for after registration facilities at affordable prices that makes it simple for entities to start there produce a result in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just as soon as bank, registered below Companies Act of India and having a real license issued by the Reserve Bank of India. NBFCs are working in the concern of loans, advances, accepting deposits, insurance, asset handing out and supplementary 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 accept demand deposits.
- NBFC cannot issue 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 grip of license for RBI for NBFC registration deserted if its principal concern involves financial activities. In order to cut off any ambiguity the departments has clarified that for a company financial bother shall be considered as principal bother if:
- Financial Assets contribute 50% or more of the sum assets
- And pension 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 dynamic in financial goings-on 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 beast 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 operational 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.