Skip to main content

Non Banking Financial Company (NBFC) | CS executive


                                        NBFC (Non-Banking Financial Company)

 

What is “NBFC”?

 

NBFC is a company registered under Companies Act, 2013 or earlier Companies Act or an institution engaged in the business of loans and advances, acceptance of deposits under different schemes and to invest this money in any manner like the acquisition of shares, securities, bonds, hire purchase, etc..  RBI Act, 1934 includes a Financial Institution which is a company or a non-banking institution which is a company having its principal business of receiving the deposits under any arrangement or scheme or in any other manner, or lending in any manner as an NBFC.

 

NBFC may be categorized as:

 

  1. Loan Companies
  2. Investment Companies
  3. Hire Purchase Finance Companies
  4. Equipment Leasing Companies
  5. Mutual Benefit Finance Companies
  6. Housing Finance Companies etc.
  7. Asset Income Approach

 

In order to identify a particular company as an NBFC, consider both, the assets and the income pattern from the last audited balance sheet to decide principal business.

 

Financial Assets are more than 50% of its Total Assets (netted by Tangible Assets)

Income from Financial Assets should be more than 50% of the gross income.

Net owned Fund requirement

Minimum Rs. 200 Lakhs at all times unless otherwise specified.

 

Formation Procedure

 A company with main object clause for carrying out NBFI activities (check object clause)

Obtain catalog of requirements from RBI website

Fill up prescribed form, available on RBI website, according to instructions with the requirements

Fill up the e-form provided in excel format

Get the required certifications of the statutory auditors/chartered accountants (as the case may be)

Submit softcopy on the RBI website before submission of the hardcopy.

Obtain the printout of the successful submission of the softcopy. Mention the date of submission on the print if the date is not appearing in print.

Submit the hardcopy application in duplicate to the regional office of RBI.

Each page in the application file should be numbered.

Prepare the application in triplicate so that a replica is with the applicant for future reference.

Commencement of Business

 

NBFC must commence its business within 6 months from the date of CoR.

If not commenced within 6 months, CoR will stand withdrawn.

No change in control prior to the commencement of its business.


Now prepare smartly for CS EXECUTIVE  with our CS Executive Course Via.. CS Executive online lectures Learn direct from your home/office. We here at Takshila Learning provide you the CS Executive Video Lectures, CS Executive Pen drive Classes along with CS Executive STUDY MATERIAL and CS Executive New Syllabus Study Material to help you prepare for your CS Executive Exam with the utmost ease.

Visit Takshila Learning for More Information About CS Executive Course

Call at 8800999280 / 8800999283 / 8800999284


Labels:

Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Lessons-Worksheets-Question Papers-CBSE Class 2 English

Lessons-Worksheets-Question Papers-CBSE Class 2 English CBSE 2nd Class English – One and Many  In this blog, we share the spelling rules used in the concept of  One  and Many. When there is only one of a naming word (noun), it is said to be a  singular noun . When a noun shows more than one, it is said to be in the  plural . We can add  –S, -es, -ves or ies  to show that there is more than one noun.  For example,  we say many birds, four biscuits, six brushes. But for the students of  Class 2 , it’s very difficult and confusing to understand where to use  s , es, ves or ies  in the form of many. Don’t worry, it looks difficult, but it is very easy as in grammar each concept has a set of rules that need to practice. Noun ending with  –s, -x, -o, -sh, -ch, and –ss  form plurals by taking  –es. Look at these pairs of words: Bus – Buses Brush – Brushes Continue ..... Click here ...
Post a Comment
Read more

Magnetic and non-magnetic material Class 6 Science

Magnetic and non-magnetic material  Class 6 Science A magnet is a substance that is drawn to certain magnetic materials like iron, cobalt, and nickel. Magnets have the ability to draw iron to them. Natural magnets are rocks that naturally draw iron. Non-magnetic materials include things like wood, rubber, coins, feathers, leather, etc. that are not drawn to iron. Magnet characteristics It pulls magnetic materials, such as iron. The magnet's two ends are referred to as its poles. The magnet's diametrically opposed poles are drawn together. Heating, hammering, or dropping causes it to lose its characteristics. On the basis of properties types of Magnets Temporary magnets are those magnets that are magnetic for only a little duration. Typically, iron, cobalt, or nickel are used to make them. When they are close to the powerful magnet, they act like a magnet. When they are yanked away from the powerful magnet, they stop being magnetic. Permanent magnets are magnets that have magne...
Post a Comment
Read more

Class 3 English Practice Grammar Worksheet -The Adverb

 Class 3 English Practice Grammar Worksheet -The Adverb Class 3 English – The Adverb – Kinds of Adverb Fill in the blanks with suitable Adverbs of place. Choose from the box.  Up               outside                       everywhere                 back                down      away          here                           there                     ...
Post a Comment
Read more