We give NBFC registration facilities in Sheikhpura 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 treaty with registration or inclusion but we also present after registration services at affordable prices that makes it easy for entities to start there bill in a hassle free manner.
WHAT IS A NBFC?
Non Banking Financial Company is just gone bank, registered under Companies Act of India and having a legal license issued by the Reserve Bank of India. NBFCs are working in the concern of loans, advances, accepting deposits, insurance, asset supervision and extra financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot agree to following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot accept demand deposits.
- NBFC cannot matter 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 purchase license for RBI for NBFC registration on your own if its principal situation involves financial activities. In order to remove any inscrutability the departments has clarified that for a company financial protest shall be considered as principal objection if:
- Financial Assets contribute 50% or more of the sum assets
- And income 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 keen in financial events 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 visceral 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 functional in financial sector must have qualified 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.