We give NBFC registration services in Palamu at affordable price and within a limited get older frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only deal with registration or assimilation but we also present after registration facilities at affordable prices that makes it simple for entities to Begin there piece of legislation in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just with bank, registered under Companies Act of India and having a valid license issued by the Reserve Bank of India. NBFCs are practicing in the thing of loans, advances, accepting deposits, insurance, asset organization and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot take following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot accept 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 get sticking together of license for RBI for NBFC registration unaided if its principal concern involves financial activities. In order to surgically remove any inscrutability the departments has clarified that for a company financial to-do shall be considered as principal bother if:
- Financial Assets contribute 50% or more of the total assets
- And allowance 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 lively in financial happenings are not required to apply for or get NBFC license form the Reserve Bank of India this is because of the fact that they are innate 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 under Companies Act, 2013.
- Company if already dynamic in financial sector must have endorsed 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.