We offer NBFC registration services in Sultanganj 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 agreement with registration or assimilation but we also have the funds for after registration facilities at affordable prices that makes it easy for entities to start there be in in a hassle release manner.
WHAT IS A NBFC?
Non Banking Financial Company is just in imitation of bank, registered below Companies Act of India and having a authentic license issued by the Reserve Bank of India. NBFCs are practicing in the situation of loans, advances, accepting deposits, insurance, asset giving out and new financial attributable as allowed by the Reserve bank of India.
RESTRICTIONS ON NBFCs.
A Non Banking Financial Company cannot acknowledge following transactions as prohibited by the Reserve Bank of India:
- A NBFC cannot take demand deposits.
- NBFC cannot business 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 isolated if its principal thing involves financial activities. In order to separate any ambiguity the departments has clarified that for a company financial objection shall be considered as principal argument if:
- Financial Assets contribute 50% or more of the total assets
- And pension from financial assets contribute 50% or more of the total gross income.
This test 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 operational in financial goings-on are not required to apply for or buy NBFC license form the Reserve Bank of India this is because of the fact that they are beast governed by extra 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 committed in financial sector must have recognized 50-50 exam as prescribed for NBFCs
The company must have a minimum Net Owned Funds of Rs. 2 crores.