We offer NBFC registration facilities in Koderma 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 treaty with registration or assimilation but we also find the money for after registration services at affordable prices that makes it simple for entities to start there take action in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just like bank, registered below Companies Act of India and having a real license issued by the Reserve Bank of India. NBFCs are involved in the concern of loans, advances, accepting deposits, insurance, asset organization and supplementary financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot resign yourself to 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 attain license for RBI for NBFC registration solitary if its principal concern involves financial activities. In order to surgically remove any ambiguity the departments has clarified that for a company financial to-do shall be considered as principal argument if:
- Financial Assets contribute 50% or more of the sum assets
- And allowance from financial assets contribute 50% or more of the total gross 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 full of life in financial comings and goings 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 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 below Companies Act, 2013.
- Company if already vigorous in financial sector must have endorsed 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.