We give NBFC registration facilities in Punaichak at affordable price and within a limited become old frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only harmony with registration or captivation but we also come taking place with the money for after registration services at affordable prices that makes it simple for entities to start there piece of legislation in a hassle free 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 authenticated license issued by the Reserve Bank of India. NBFCs are working in the issue of loans, advances, accepting deposits, insurance, asset dealing out and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot bow to following transactions as forbidden by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot thing 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 come by license for RBI for NBFC registration only if its principal situation involves financial activities. In order to remove any vagueness the departments has clarified that for a company financial activity shall be considered as principal commotion if:
- Financial Assets contribute 50% or more of the sum assets
- And allowance from financial assets contribute 50% or more of the total terrifying 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 practicing in financial endeavors are not required to apply for or attain NBFC license form the Reserve Bank of India this is because of the fact that they are bodily 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 dynamic in financial sector must have credited 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.