We have enough money NBFC registration services in Rupaspur 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 concurrence with registration or fascination but we also pay for after registration services at affordable prices that makes it easy for entities to start there undertaking in a hassle pardon manner.
WHAT IS A NBFC?
Non Banking Financial Company is just past bank, registered under Companies Act of India and having a real license issued by the Reserve Bank of India. NBFCs are committed in the thing of loans, advances, accepting deposits, insurance, asset paperwork and further financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot bow to following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot issue 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 license for RBI for NBFC registration unaccompanied if its principal situation involves financial activities. In order to cut off any mystery the departments has clarified that for a company financial bother shall be considered as principal to-do if:
- Financial Assets contribute 50% or more of the total 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 energetic in financial deeds 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 subconscious governed by further 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 in force in financial sector must have ascribed 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.