We present NBFC registration services in Sitamarhi 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 agreement with registration or fascination but we also provide after registration facilities at affordable prices that makes it easy for entities to start there discharge duty in a hassle clear manner.
WHAT IS A NBFC?
Non Banking Financial Company is just taking into consideration bank, registered under Companies Act of India and having a true license issued by the Reserve Bank of India. NBFCs are committed in the event of loans, advances, accepting deposits, insurance, asset executive and supplementary financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot understand following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot accept 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 get license for RBI for NBFC registration forlorn if its principal situation involves financial activities. In order to sever any secrecy the departments has clarified that for a company financial bother shall be considered as principal ruckus if:
- Financial Assets contribute 50% or more of the sum assets
- And pension 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 keen in financial activities 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 being 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 working in financial sector must have certified 50-50 test as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.