We have the funds for NBFC registration facilities in Jehanabad at affordable price and within a limited grow old frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only settlement with registration or concentration but we also offer after registration facilities at affordable prices that makes it easy for entities to Begin there accomplish in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just in the same way as bank, registered under Companies Act of India and having a real license issued by the Reserve Bank of India. NBFCs are functional in the thing of loans, advances, accepting deposits, insurance, asset admin and extra financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot take following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot business 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 solitary if its principal issue involves financial activities. In order to surgically remove any secrecy the departments has clarified that for a company financial objection shall be considered as principal bother if:
- Financial Assets contribute 50% or more of the total assets
- And pension from financial assets contribute 50% or more of the total gross 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 operating in financial actions are not required to apply for or buy NBFC license form the Reserve Bank of India this is because of the fact that they are visceral 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 working 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.