We pay for NBFC registration facilities in Latehar 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 harmony with registration or immersion but we also manage to pay for after registration facilities at affordable prices that makes it easy for entities to start there sham in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just subsequent to bank, registered under Companies Act of India and having a authentic license issued by the Reserve Bank of India. NBFCs are involved in the situation of loans, advances, accepting deposits, insurance, asset presidency and supplementary financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot believe following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot concern 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 lonesome if its principal concern involves financial activities. In order to remove any secrecy the departments has clarified that for a company financial bustle 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 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 vigorous in financial comings and goings are not required to apply for or obtain NBFC license form the Reserve Bank of India this is because of the fact that they are mammal governed by extra 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 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.