We offer NBFC registration facilities in Darbhanga at affordable price and within a limited era frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only pact with registration or inclusion but we also provide after registration services at affordable prices that makes it easy for entities to start there exploit in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just taking into account bank, registered under Companies Act of India and having a true license issued by the Reserve Bank of India. NBFCs are committed in the matter of loans, advances, accepting deposits, insurance, asset direction and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot receive following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot situation 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 hold of license for RBI for NBFC registration isolated if its principal event involves financial activities. In order to cut off any ambiguity the departments has clarified that for a company financial upheaval shall be considered as principal argument if:
- Financial Assets contribute 50% or more of the total 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 working in financial activities 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 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 under Companies Act, 2013.
- Company if already functional in financial sector must have certified 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.