We allow NBFC registration services in Darul Mallick at affordable price and within a limited period frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only deal with registration or combination but we also have the funds for after registration services at affordable prices that makes it easy for entities to Begin there statute in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just similar to bank, registered under Companies Act of India and having a authenticated license issued by the Reserve Bank of India. NBFCs are on the go in the situation of loans, advances, accepting deposits, insurance, asset processing and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot acknowledge following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot event 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 attain license for RBI for NBFC registration single-handedly if its principal thing involves financial activities. In order to sever any ambiguity the departments has clarified that for a company financial excitement shall be considered as principal commotion if:
- Financial Assets contribute 50% or more of the sum assets
- And pension from financial assets contribute 50% or more of the total terrifying income.
This test 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 energetic in financial endeavors are not required to apply for or make a get your hands on of NBFC license form the Reserve Bank of India this is because of the fact that they are visceral governed by new 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 enthusiastic in financial sector must have recognized 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.