We offer NBFC registration services in Saharsa at affordable price and within a limited era frame of 90 days. We have incorporated and are aiding various NBFCs in Bihar and Jharkhand, we not only treaty with registration or interest but we also pay for after registration services at affordable prices that makes it simple for entities to start there bill in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just in imitation of bank, registered under Companies Act of India and having a authenticated license issued by the Reserve Bank of India. NBFCs are full of zip in the thing of loans, advances, accepting deposits, insurance, asset management and additional financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot consent following transactions as forbidden 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 your hands on license for RBI for NBFC registration forlorn if its principal thing involves financial activities. In order to surgically remove any obscurity the departments has clarified that for a company financial argument 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 gross income.
This test 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 energetic in financial endeavors are not required to apply for or get your hands on NBFC license form the Reserve Bank of India this is because of the fact that they are subconscious 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 under Companies Act, 2013.
- Company if already operating in financial sector must have credited 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.