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		<title>Private Limited Company Registration in Kolkata Via Online Method</title>
		<link>https://muds.co.in/private-limited-company-registration-in-kolkata-via-online-method/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Tue, 03 May 2022 08:52:16 +0000</pubDate>
				<category><![CDATA[Consulting]]></category>
		<category><![CDATA[Debt Recovery]]></category>
		<category><![CDATA[Directors Disqualification]]></category>
		<category><![CDATA[disqualification of directors]]></category>
		<category><![CDATA[Disqualifications of Directors]]></category>
		<category><![CDATA[disqualified directors]]></category>
		<category><![CDATA[Employee Stock Option Plan]]></category>
		<category><![CDATA[ESOP]]></category>
		<category><![CDATA[iepf]]></category>
		<category><![CDATA[Insolvency and Bankruptcy code]]></category>
		<category><![CDATA[insolvency education]]></category>
		<category><![CDATA[insolvency process]]></category>
		<category><![CDATA[Insolvency professional]]></category>
		<category><![CDATA[Insolvency Resolution]]></category>
		<category><![CDATA[Insolvency Resolution Process]]></category>
		<category><![CDATA[lost shares]]></category>
		<category><![CDATA[Micro Financing]]></category>
		<category><![CDATA[NBFC]]></category>
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		<category><![CDATA[NBFC Weekly Digest]]></category>
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		<category><![CDATA[recovery of shares from IEPF]]></category>
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					<description><![CDATA[<p>Private Limited Company Registration in Kolkata&#160; In this post, we’ll look at how to register a business in Kolkata. Company registration is a procedure through which all businesses are registered on the MCA’s website (Ministry of Corporate Affairs). The Company Registration in Kolkata is a simple procedure, but it requires numerous procedures to complete. A [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/private-limited-company-registration-in-kolkata-via-online-method/">Private Limited Company Registration in Kolkata Via Online Method</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>Private Limited Company Registration in Kolkata&nbsp;</h2>
<p>In this post, we’ll look at how to register a business in Kolkata. Company registration is a procedure through which all businesses are registered on the MCA’s website (Ministry of Corporate Affairs). The Company Registration in Kolkata is a simple procedure, but it requires numerous procedures to complete.</p>
<p>A Private Limited Company offers its stockholders legal protection and limited liability. A privaely held limited firm must have at least positions two working directors. A person can be both a director and a shareholder in a Private Limited Company. After receiving a Certificate of Incorporation, a Private Limited Company (PLC) can begin operations. Within 15 days following its application, a PLC can be implemented.</p>
<p>As a result, we will concentrate on the advantages and procedures of forming a Private Limited Company registrationin Kolkata in this post.</p>
<h2 data-fontsize="20" data-lineheight="24"><b>Advantages of forming a private firm company registration in Kolkata</b></h2>
<ol>
<li aria-level="1">A private limited company might have anything from two to fifty directors.</li>
<li aria-level="1">It is a legal autonomous body.</li>
<li aria-level="1">Directors have limited liability and are not directly responsible for the company’s operations.</li>
<li aria-level="1">Directors are only partially liable to creditors.</li>
<li aria-level="1">In the event of a default, the bank or creditors will sell the company’s assets rather than personal property.</li>
<li aria-level="1">The directors are eligible for tax benefits.</li>
<li aria-level="1">Suing or being sued in the name of a registered corporation is possible.</li>
<li aria-level="1">Companies that are registered have a higher chance of borrowing money.</li>
</ol>
<h2><b>Company Registration in Kolkata: Private Company Incorporation Checklist</b></h2>
<ul>
<li aria-level="1"><b>Directors:</b>&nbsp;For private company registration in Kolkata, a minimum of two directors is required, with one of them being a resident director.</li>
<li aria-level="1"><b>The investment</b>&nbsp;must be made in accordance with the business type, and there is no minimum capital investment necessary for a firm.</li>
<li aria-level="1">Inventive business name: The name of the firm must not be identical or confusingly similar to that of another company.</li>
<li aria-level="1"><b>Registered address:</b>&nbsp;Every business should have one.</li>
</ul>
<h2><b>Steps for Incorporation of the Company</b></h2>
<p><i>The following are the stages of forming a business using the RUN form:</i></p>
<ol>
<li aria-level="1"><i>After that, create a login account and log in.</i></li>
<li aria-level="1"><i>Enter the name you want to use and cross-reference it with the MCA database.</i></li>
<li aria-level="1"><i>If an established business wants to reverse its name, a CIN will be requested through the RUN e- form.</i></li>
<li aria-level="1"><i>The applicant must specify the name that he or she wishes to keep on file in case the firm’s name is changed or a new company is formed.</i></li>
<li aria-level="1"><i>Then he or she must submit the prospective company’s objects as well as any additional documents in support of the suggested name.</i></li>
</ol>
<h3><b>Limited Name Validity</b></h3>
<ul>
<li aria-level="1">For a new corporation, an authorised name is valid for 20 days from the date of approval.</li>
<li aria-level="1">60 days after the date of authorization for changing the name of an established corporation.</li>
</ul>
<h2><b>Steps for Private Company Registration in Kolkata</b></h2>
<h3><b>Step 1: Obtain DSC</b></h3>
<p>Because the process is online, a digital signature is required for the incorporation of a private limited company. Members and executives must have a legitimate Class II or Class III DSC.</p>
<h3><b>Step 2: Fill out an application for a DIN number.</b></h3>
<p>A directors must have a DIN and must apply for one on MCA if he does not already have one. A DIN number can be used to become a director in many&nbsp;<a href="https://timesofindia.indiatimes.com/blogs/voices/retrieve-your-lost-and-unclaimed-investment-made-in-shares-and-find-lost-shares-and-understand-the-process-of-recovering-them/?fbclid=IwAR2_cdzzvVYRtdMtNZw5qhHOwkPftQPP2kpDmj0358shoGMjcALSXi4pPY0">businesses</a>.</p>
<h3><b>Step 3: Submit an application for name approval</b></h3>
<p>At the time of establishment, the company’s name, as well as SPICe (INC-32) must be submitted for approval. If the name is rejected, it can be resubmitted.</p>
<h3><b>Step 4:&nbsp;</b>e-MoA (INC-33) and e-AoA are the fourth and final steps (INC-34)</h3>
<p>Previously, MoA and AoA had to be filed physically, but now they must be filed online on the MCA website. These papers must be digitally signed by the subscribers.</p>
<h3><b>Step 5: PAN and TAN applications</b></h3>
<p>After all of the paperwork have been completed, the applicant should consider applying for a PAN and TAN.</p>
<h3><b>Step 6: Certificate of Incorporation&nbsp;</b></h3>
<p>MCA &amp; RoC will analyse all of the documentation and issue a Certificate of Incorporation if they are pleased. The Certificate of Incorporation is a legal document that grants the firm legal standing.</p>
<h3><b>7th Step: Open bank Accounts</b></h3>
<p>The firm must create a bank account for any transactions in its name after receiving the certificate of incorporation.</p>
<p><b>In order to register a company in Kolkata, you’ll need the following documents</b></p>
<p>Documents required for company registration&nbsp; in Kolkata:</p>
<ol>
<li aria-level="1">For DSC&nbsp;</li>
<li aria-level="1">DIN (Director Identification Number)</li>
<li aria-level="1">Incorporation of a Business</li>
</ol>
<h2><b>In the case of DSC,</b></h2>
<ol>
<li aria-level="1">Along with the DSC application form, the following papers must be forwarded:</li>
<li aria-level="1">The claimant’s photograph (to be stamped across with a blue pen)</li>
<li aria-level="1">The director’s address proof (s)</li>
<li aria-level="1">Id Proof (<a href="https://muds.co.in/process-for-name-change-in-pan-card/">Pan Card</a>) of the applicant Passport Aadhar card Driving licence Voter Id card Email Id and contact number (for each director)</li>
</ol>
<h2><b>DIN</b></h2>
<p>Fill out the e-form DIR -3, which is available on the MCA website. Alongside Form DIR -3, attach the supporting information:</p>
<ol>
<li aria-level="1">Id proof photo of the applicant (attested)</li>
<li aria-level="1">Proof of address (attested)</li>
<li aria-level="1">Make the payment as directed. The only way to pay is on the internet.</li>
<li aria-level="1">There will be a preliminary DIN created.</li>
<li aria-level="1">A preliminary DIN becomes an authorised DIN after verification.</li>
</ol>
<ul>
<li aria-level="2">For a Firm’s Registration</li>
<li aria-level="2">The Firm’s Title</li>
<li aria-level="2">The firm’s assets</li>
<li aria-level="2">Investors’ list</li>
<li aria-level="2">The director’s Id proof is the company’s purpose (s)</li>
</ul>
<ol>
<li aria-level="1">Aadhar card and passport</li>
<li aria-level="1">Id cards for voters and driver’s licence</li>
<li aria-level="1">Director’s proof of residence (s)</li>
<li aria-level="1">Bank statement Telephone bill</li>
<li aria-level="1">The cost of electricity</li>
<li aria-level="1">Mobile phone bill (not old than two months)</li>
<li aria-level="1">INC-9 Director(s) Consent (form DIR-2) (Affidavit)</li>
</ol>
<ul>
<li aria-level="1">Proof of the registered office’s address</li>
</ul>
<ol>
<li aria-level="1">Bills of Gas,&nbsp;</li>
<li aria-level="1">Phone, and</li>
<li aria-level="1">Electricity</li>
</ol>
<p>If the office is included in the lease, the lease agreement and a letter of authorization from the owner are required.</p>
<h2><b>Holders of DINs declare themselves</b></h2>
<p>A Private Limited&nbsp;<a href="https://muds.co.in/company-registration-2/">Company Registration</a>&nbsp;in Kolkata is an online operation that should be completed with caution, and once completed, the directors are entitled to all of the privileges of a Private Limited Company.</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/private-limited-company-registration-in-kolkata-via-online-method/">Private Limited Company Registration in Kolkata Via Online Method</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>New Monetary Policy 2022: Repo Rate Remained Unchanged</title>
		<link>https://muds.co.in/new-monetary-policy-2022-repo-rate-remained-unchanged/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Tue, 03 May 2022 08:23:53 +0000</pubDate>
				<category><![CDATA[Consulting]]></category>
		<category><![CDATA[Corporate Insolvency Resolution Process]]></category>
		<category><![CDATA[Debt Recovery]]></category>
		<category><![CDATA[Directors Disqualification]]></category>
		<category><![CDATA[disqualification of directors]]></category>
		<category><![CDATA[Disqualifications of Directors]]></category>
		<category><![CDATA[disqualified directors]]></category>
		<category><![CDATA[Employee Stock Option Plan]]></category>
		<category><![CDATA[ESOP]]></category>
		<category><![CDATA[iepf]]></category>
		<category><![CDATA[Insolvency and Bankruptcy code]]></category>
		<category><![CDATA[insolvency education]]></category>
		<category><![CDATA[insolvency process]]></category>
		<category><![CDATA[Insolvency professional]]></category>
		<category><![CDATA[Insolvency Resolution]]></category>
		<category><![CDATA[lost shares]]></category>
		<category><![CDATA[Micro Financing]]></category>
		<category><![CDATA[NBFC]]></category>
		<category><![CDATA[NBFC Incorporation]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<category><![CDATA[NBFC Weekly Digest]]></category>
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		<category><![CDATA[physical shares]]></category>
		<category><![CDATA[PoSH]]></category>
		<category><![CDATA[posh act]]></category>
		<category><![CDATA[posh act 2013]]></category>
		<category><![CDATA[posh law]]></category>
		<category><![CDATA[Preference Shares]]></category>
		<category><![CDATA[process to claim shares from iepf]]></category>
		<category><![CDATA[recover shares from iepf]]></category>
		<category><![CDATA[Recovery of Bad Debt]]></category>
		<category><![CDATA[Recovery of Debt]]></category>
		<category><![CDATA[recovery of shares]]></category>
		<category><![CDATA[removal of director]]></category>
		<category><![CDATA[removal of director disqualification]]></category>
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		<guid isPermaLink="false">https://muds.co.in/?p=13891</guid>

					<description><![CDATA[<p>New Monetary Policy 2022 Releases from the RBI Monetary Policy 2022 Meeting: The six-member Monetary Policy 2022 Committee (MPC), led by Reserve Bank of India (RBI) Governor Shaktikanta Das, maintained the repo rate at 4% and the reverse repo rate at 3.35 % intact. Here’s what the governor of India’s central bank said. RBI Monetary [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/new-monetary-policy-2022-repo-rate-remained-unchanged/">New Monetary Policy 2022: Repo Rate Remained Unchanged</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>New Monetary Policy 2022</h1>
<p>Releases from the RBI Monetary Policy 2022 Meeting: The six-member Monetary Policy 2022 Committee (MPC), led by Reserve Bank of India (RBI) Governor Shaktikanta Das, maintained the repo rate at 4% and the reverse repo rate at 3.35 % intact. Here’s what the governor of India’s central bank said.</p>
<p><b>RBI Monetary Policy 2022: The Reserve Bank of India’s (RBI) Monetary Policy 2022 Committee (MPC) retained the repo rate at 4% for the 11th straight approach achieves a ‘affiliative posture,’ according to RBI Governor Shaktikanta Das on Friday.</b></p>
<p><b>The MPC decided unanimously to continue the accommodating approach, according to the central bank governor, and the reverse repo rate was also remained steady at 3.35 percent.</b></p>
<p>The Marginal Standing Facility (MSF) rates and the lending rate were likewise held steady at&nbsp;<b><i>4.25 percent.</i></b></p>
<p>On May 22, 2020, the RBI reduced its policy repo rate, or short-term lending rate, in an off-policy cycle to boost demand by decreasing interest rates to a historic low.</p>
<p>In a press conference following the Monetary Policy 2022 meeting, Das stated that the RBI will return the liquidity adjustment facility (LAF) corridor to 50 basis points (bps), as it was pre-Covid. The MSF rate and the bank rate remain at 4.25 percent.</p>
<p><b><i>“It also agreed to remain accommodating while concentrating on withdrawal of accommodation to ensure that inflation remains within the goal moving ahead, while encouraging expansion,”&nbsp;</i></b></p>
<p>-he added on the central bank’s attitude.</p>
<p>” It will continue to be part of the RBI’s toolbox, and its use will be at the discretion of the RBI for objectives that are indicated from time to time. The FRRR, in conjunction with the SDF, will increase the flexibility of the RBI’s liquidity management framework.”</p>
<p>The RBI reduced its growth prediction for the current fiscal year to 7.2 percent from 7.8 percent previously, while increasing its inflation forecast to 5.7 percent from 4.5 percent.</p>
<p>He went on to say that, given the inordinate volatility in international oil prices as of early February, as well as the extreme uncertainty surrounding the evolving geopolitical tensions, any projection of growth and inflation is fraught with risk, and is largely dependent on future oil and commodity price developments.</p>
<p>Das addressed liquidity and financial market circumstances in his speech, stating that the RBI will continue to take a sophisticated and agile approach to liquidity risk management while preserving appropriate liquidity in the system.</p>
<p>“At the moment, liquidity management is distinguished by two procedures: variable rate reverse repo (VRRR) bids of varied maturities to swallow liquidity, and variable rate repo (VRR) auctions to fill temporary liquidity problems and offset anomalies.” “We will keep taking this strategy,” he stated.</p>
<h2 data-fontsize="20" data-lineheight="24"><b>ATM cash withdrawal without a card that is interoperable</b></h2>
<p>In an effort to combat fraud, the Reserve Bank of India agreed on Friday to allow all banks to use card-less cash withdrawal through ATMs. Currently, card-less cash withdrawal via ATMs is a permissible form of transaction allowed by a few banks in the nation on an as-needed basis (for their customers at their own ATMs).</p>
<h3><b>Economic experts and market analysts reacted as follows:</b></h3>
<ul>
<li aria-level="1">The severe reduction in GDP forecasts for FY23 and significant increase in inflation expectations for FY23 might suggest some tightening measures in the future, which would be supported by the shift in posture to focus on withdrawal of accommodation. Current geopolitical developments, supply chain concerns, and commodity price increases are tying the RBI’s hands and pushing it to progressively turn hawkish, despite its desire to maintain its pro-growth perspective. The 10-year Gsec yield has increased to 7%, showing the street’s worry over the massive borrowing programme in the face of rising interest rates.”</li>
<li aria-level="1">“Retaining the repo rate at 4% and the reverse repo rate at 3.35 percent, continuing with the accommodating posture on expected lines,” said V K Vijayakumar, Chief Investment Strategist at Geojit&nbsp;<a href="https://muds.co.in/">Financial Services</a>. Recognizing the new reality of increased petroleum prices caused by the war, the RBI cut the FY23 GDP growth rate prediction to 7.2 percent from 7.8 percent before and upped the FY23 CPI inflation projection to 5.7 percent from 4.5 percent previously. This is predicated on the premise that crude will be $100 per barrel. This suggests that if crude falls considerably, which is likely if the conflict ends soon, GDP and inflation will improve.The opposite might be true if the battle escalates and petroleum prices rise well beyond $100. The Governor correctly underscored India’s macroeconomic fundamentals, noting to an improvement in the external position aided by record exports, large foreign reserves of $608 billion, and banking sector development. The SDF (Standing Deposit Facility) is a new mechanism established by the central bank to absorb liquidity.&nbsp;</li>
</ul>
<p>“The recent RBI Monetary Policy 2022 did not include any surprises,” stated Nish Bhatt, Founder &amp; CEO of Millwood Kane International, “it held rates constant for the 11th straight policy.” However, it has clearly outlined the road to policy unwinding. The emphasis will now be on withdrawing the accommodating policy stance in order to keep inflation under control. The&nbsp;<a href="https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=53601">RBI’s statement today</a>&nbsp;plainly suggests the end of loose Monetary Policy 2022, which is reflected in the 10-year benchmark yield, which has reached a multi-year high.&nbsp;The unwinding of liquidity will cause some instability, and it is expected that the RBI would drop the growth rate prediction for FY23 to 7.2 percent, with the inflation target raised to 5.7 percent from 4.5 percent previously. The explicit goal of central banks throughout the world is to manage inflation, unwind lose money, and concentrate on gradual and steady development.“</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/new-monetary-policy-2022-repo-rate-remained-unchanged/">New Monetary Policy 2022: Repo Rate Remained Unchanged</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>POSH Act: ALL ABOUT THE SEXUAL HARASSMNET LAW IN INDIA</title>
		<link>https://muds.co.in/posh-act-all-about-the-sexual-harassmnet-law-in-inida/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Tue, 03 May 2022 07:03:53 +0000</pubDate>
				<category><![CDATA[PoSH]]></category>
		<category><![CDATA[Debt Recovery]]></category>
		<category><![CDATA[Directors Disqualification]]></category>
		<category><![CDATA[disqualification of directors]]></category>
		<category><![CDATA[disqualified directors]]></category>
		<category><![CDATA[Employee Stock Option Plan]]></category>
		<category><![CDATA[ESOP]]></category>
		<category><![CDATA[iepf]]></category>
		<category><![CDATA[Insolvency and Bankruptcy code]]></category>
		<category><![CDATA[insolvency education]]></category>
		<category><![CDATA[insolvency process]]></category>
		<category><![CDATA[Insolvency professional]]></category>
		<category><![CDATA[Insolvency Resolution Process]]></category>
		<category><![CDATA[lost shares]]></category>
		<category><![CDATA[Micro Financing]]></category>
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		<category><![CDATA[posh act]]></category>
		<category><![CDATA[posh act 2013]]></category>
		<category><![CDATA[posh law]]></category>
		<category><![CDATA[Preference Shares]]></category>
		<category><![CDATA[process to claim shares from iepf]]></category>
		<category><![CDATA[Recovery of Bad Debt]]></category>
		<category><![CDATA[Recovery of Debt]]></category>
		<category><![CDATA[recovery of shares]]></category>
		<category><![CDATA[recovery of shares from IEPF]]></category>
		<category><![CDATA[removal of director]]></category>
		<category><![CDATA[removal of director disqualification]]></category>
		<category><![CDATA[removal of directors disqualification]]></category>
		<category><![CDATA[restoration of DIN]]></category>
		<category><![CDATA[revival of struck off companies]]></category>
		<category><![CDATA[SEBI]]></category>
		<category><![CDATA[sexual harassment of women at workplace]]></category>
		<category><![CDATA[share]]></category>
		<category><![CDATA[share recovery]]></category>
		<category><![CDATA[SME IPO]]></category>
		<category><![CDATA[transfer of shares]]></category>
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					<description><![CDATA[<p>POSH Act: ALL ABOUT THE SEXUAL HARASSMENT LAW&#160; Sexual harassment law:&#160;The word “workplace” confers to the Sexual&#160;harassment at workplace&#160;of Women at Workplace (Regulation, Prevention, and Redressal) Posh Act of 2013, and specifically includes: All offices or other locations where the Company does business. All Company-related activities undertaken at any other place that is not the [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/posh-act-all-about-the-sexual-harassmnet-law-in-inida/">POSH Act: ALL ABOUT THE SEXUAL HARASSMNET LAW IN INDIA</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>POSH Act: ALL ABOUT THE SEXUAL HARASSMENT LAW&nbsp;</h2>
<p><b>Sexual harassment law:</b>&nbsp;<b><i>The word “workplace” confers to the Sexual&nbsp;</i></b><b>harassment at workplace</b><b><i>&nbsp;of Women at Workplace (Regulation, Prevention, and Redressal) Posh Act of 2013, and specifically includes:</i></b></p>
<div class="post-content">
<ol>
<li>All offices or other locations where the Company does business.</li>
<li>All Company-related activities undertaken at any other place that is not the Company’s premises and is under the authority of the employers.</li>
<li>Any social, business, or other activities and/or events, seminars, or corporate gatherings where the behavior and/or commencements may have a negative influence on working women workers participating in the event.</li>
</ol>
<h2><b>HOW TO PREVENT SEXUAL HARRASSMENT</b></h2>
<p>Sexual harassment law prevention—</p>
<p>(1) No woman shall be exposed to sexual harassment in any job.</p>
<p>(2) If any of the below events take place, are presented in conjunction with, or are connected to any act or behavior of gender based violence, they may be considered sexual assault:</p>
<ul>
<li aria-level="1">Inferred or clear and specific assure of favorable treatment in her workplace;</li>
<li aria-level="1">Inferred or imminent threat of harassment at workplace and discrimination in her workplace;&nbsp;</li>
<li aria-level="1">Inferred or actual assault about her current or future job status; or&nbsp;</li>
<li aria-level="1">Intervention with her job role or creation of a threatening, objectionable, or hostile work environment for her; or</li>
<li aria-level="1">Mortifying treatment likely to damage her safety and wellbeing</li>
</ul>
<p>All Group/Company personnel have a personal duty to ensure that their actions do not violate this policy. All workers are asked to underline the importance of maintaining a sexual harassment at workplace-free workplace.</p>
<h4><b>Grievance Procedure:&nbsp;</b></h4>
<p>In the Company/Group, a suitable complaint mechanism in the form of a “Internal Complaints Committee” (ICC) has been established for the timely redress of the victim employee’s complaint.</p>
<h2><b>ESTABLISHMENT OF INTERNAL COMPLAINTS COMMITTEE (ICC):</b></h2>
<p>All personnel at the site who are covered by the committee are informed of the committee’s details (workplace).</p>
<h3><b><i>Each location’s committee consists of the following individuals:</i></b></h3>
<ul>
<li aria-level="1">A woman in a top position in the company or workplace serves as the presiding officer.</li>
<li aria-level="1">At least two staff who are devoted to the cause of women and/or have legal expertise;</li>
<li aria-level="1">One representative from a non-governmental group or association dedicated to the cause of women, or a person knowledgeable about sexual harassment concerns.</li>
</ul>
<h3><b>The Internal Complaints Committee is in charge of the following:</b></h3>
<ul>
<li aria-level="1">Receiving sexual harassment at workplace allegations in the workplace.</li>
<li aria-level="1">Initiating and conducting an investigation in accordance with the Act’s stated procedure.</li>
<li aria-level="1">Inquiry results and suggestions are submitted.</li>
<li aria-level="1">collaborating with the employer to put necessary measures in place.</li>
<li aria-level="1">Following the established policy of maintaining tight secrecy throughout the process.</li>
<li aria-level="1">Discourage and prevent sexualharassment at workplace.</li>
</ul>
<h2><b>PROCEDURES FOR RESOLVING, SETTLING, OR PROSECUTING SEXUAL HARASSMENT LAW:</b></h2>
<p>As follows, the Company is dedicated to creating a supportive atmosphere for resolving sexual harassment complaints:</p>
<ol>
<li aria-level="1">When an episode of sexual harassment happens, the victim of such conduct can instantly convey their displeasure and concerns to the harasser, as well as urge that the harasser act respectfully. If the harassment continues, or if the victim feels uncomfortable confronting the harasser directly, the victim may submit their concerns to the Internal Complaints Committee (ICC) for resolution of their issues. Following that, the Internal Complaints Committee will give advise or assistance as needed, as well as conduct a quick investigation to settle the situation.</li>
</ol>
<p>&nbsp;</p>
<h3><b>Charge under sexual harassment law</b></h3>
<ol>
<li>An employee with a harassment complaint who is uncomfortable with or has exhausted the informal settlement alternatives may file a formal complaint with the Presiding Officer of the Management’s Internal Complaints Committee. Any aggrieved woman may file a complaint of sexual harassment at work with ICC within 3 (three) months of the date of the incident, or in the case of a series of incidents, within 3 (three) months of the last incident, and ICC may, for reasons to be recorded in writing, extend the time limit not exceeding three months if the circumstances of the case are satisfied.</li>
<li>In the event that such a complaint cannot be made in writing, the Presiding Officer or any&nbsp;<a href="https://muds.co.in/composition-and-duties-of-the-internal-complaints-committee/">member of the ICC</a>&nbsp;shall provide the woman with all reasonable help in writing the complaint.</li>
<li>Before launching an investigation under Section 11 of the Posh Act, the ICC may, at the request of the aggrieved woman, attempt to resolve the matter through conciliation, provided that no monetary settlement is made as a basis for conciliation, and where a settlement is reached, the ICC shall record the settlement and forward it to the employer for action as specified in the recommendation. Following that, the ICC will send the aggrieved ladies and the respondent with copies of the settlement as recorded, and no further investigation will be done.</li>
<li>If the aggrieved woman notify the ICC under the&nbsp;<a href="https://muds.co.in/posh-act-2013-sexual-harassment-women-workplace/">posh act</a>&nbsp;that any term or condition of the settlement reached under Section 10 (2) has not been met by the respondent, the ICC shall conduct an investigation or, as the case may be, forward the complaint to the police, and for the purpose of conducting an investigation, the ICC shall have the same powers as a Civil Court when trying a suit under the Code of Civil Procedure, 1908.</li>
<li>The ICC must finish the investigation under Section 11(1) within 90 days.&nbsp;</li>
</ol>
<h3><b>Any of the following can be used as a basis for disciplinary action:</b></h3>
<ol>
<li>Formal sincerely apologise;&nbsp;</li>
<li>Reduction to a lower grade;&nbsp;</li>
<li>Written warning with a copy kept in the employee’s file;&nbsp;</li>
<li>Suspension or termination of promotion for two years or more depending on the sensitivity of the case;&nbsp;</li>
<li>Any other appropriate disciplinary action as deemed</li>
</ol>
<h3><b>1. Report of the Inquiry under the sexual harassment law:</b></h3>
<p>The ICC must provide the inquiry report to the parties concerned within 10 days after the conclusion of the investigation.</p>
<h3><b>2. Penalties For False Or Intentionally False Complaints And False Evidence:</b></h3>
<p>If the ICC determines that the complainant made the complaint knowing it was false or produced any forged or misleading document, it may advise the employer to take action against the aggrieved women or the person who made the complaint with wrongful intent, as the case may be, in accordance with the provisions of the services rules applicable to her or him or, if no such service rules exist, in accordance with the provisions of the services rules applicable to her or him.</p>
<h3><b>3. Penalties for Making a False Or Malicious Complaint and Providing False Evidence:</b></h3>
<p>If the ICC determines that the complainant made the complaint knowing it was false or produced any forged or misleading document, it may advise the employer to take action against the aggrieved woman or the person who made the complaint with wrongful intent, as the case may be, in accordance with the provisions of the rules of the service applicable to her or him, or where no such service rules exist, in such a matrimonial situation.</p>
<h3><b><i>Annual report preparation: It must include the following information:</i></b></h3>
<ol>
<li>a) The number of sexual harassment complaints received each year;&nbsp;</li>
<li>b) The number of complaints resolved each year;</li>
<li>c) The number of cases pending for more than 90 days;&nbsp;</li>
<li>d) The number of workshops held to raise awareness about sexual harassment at workplace;&nbsp;</li>
<li>e) The type of action taken by the employer or district magistrate.</li>
</ol>
<h2><b>Security:</b></h2>
<p>The Company realises how difficult it is for a victim to come forward with sexual harassment at workplace complaints and respects the victim’s desire to keep the matter private.</p>
<h2><b>COMPLAINANT / VICTIM PROTECTION:&nbsp;</b></h2>
<p>The Company is dedicated to ensuring that no employee who reports harassment at workplace is subjected to retaliation in any way. Any retaliation will result in disciplinary action. When dealing with sexual harassment accusations, the Company will guarantee that the victim or witnesses are not mistreated or discriminated against. Anyone who abuses the system (for example, by intentionally making an accusation knowing it is false) will face disciplinary action as outlined in the Act.</p>
<h2><b>CONCLUSION:</b></h2>
<p>Finally, the Company reaffirms its commitment to creating a harassment-free and discrimination-free workplace where each worker is regarded with decency and respect. Posh act or sexual harassment law&nbsp;<a href="https://en.wikipedia.org/wiki/Sexual_Harassment_of_Women_at_Workplace_(Prevention,_Prohibition_and_Redressal)_Act,_2013#:~:text=The%20Sexual%20Harassment%20of%20Women,Parliament)%20on%203%20September%202012.">ensures safety of females</a>&nbsp;at online and offline workplaces.&nbsp;</p>
</div>
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<p>The post <a rel="nofollow" href="https://muds.co.in/posh-act-all-about-the-sexual-harassmnet-law-in-inida/">POSH Act: ALL ABOUT THE SEXUAL HARASSMNET LAW IN INDIA</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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		<title>NBFC Vs Micro Financing Institution: Things to Know before Setting Up Finance Company</title>
		<link>https://muds.co.in/nbfc-vs-micro-financing-institution/</link>
		
		<dc:creator><![CDATA[Shweta Gupta]]></dc:creator>
		<pubDate>Tue, 03 Nov 2020 08:41:41 +0000</pubDate>
				<category><![CDATA[Micro Financing]]></category>
		<category><![CDATA[NBFC]]></category>
		<category><![CDATA[NBFC Incorporation]]></category>
		<category><![CDATA[NBFC Registration]]></category>
		<category><![CDATA[NBFC Weekly Digest]]></category>
		<category><![CDATA[NBFC AA]]></category>
		<category><![CDATA[Nbfc aa license]]></category>
		<category><![CDATA[nbfc compliances]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<category><![CDATA[nbfc registration procedure]]></category>
		<category><![CDATA[NBFC-Account aggregator license]]></category>
		<category><![CDATA[NBFC-ICC]]></category>
		<category><![CDATA[NBFC-MFI]]></category>
		<category><![CDATA[NBFC-P2P]]></category>
		<category><![CDATA[NBFCs]]></category>
		<category><![CDATA[NBFCs provide loans]]></category>
		<category><![CDATA[rbi nbfc registration]]></category>
		<guid isPermaLink="false">https://muds.co.in/nbfc-vs-micro-financing-institution-things-to-know-before-setting-up-finance-company/</guid>

					<description><![CDATA[<p>Non-Banking Financial Company or NBFC refers to a company registered under the Companies Act and regulated by the Reserve Bank of India. The main activities of an NBFC are related to small-time lending that includes giving loans and advances to manufacturers, savings and investment products, credit facility, trading at money market, transfer of money, managing [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/nbfc-vs-micro-financing-institution/">NBFC Vs Micro Financing Institution: Things to Know before Setting Up Finance Company</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Non-Banking Financial Company or NBFC refers to a company registered under the Companies Act and regulated by the Reserve Bank of India. The main activities of an <strong><a href="https://www.muds.co.in/nbfc-registration/" target="_blank" rel="noreferrer noopener">NBFC</a></strong> are related to small-time lending that includes giving loans and advances to manufacturers, savings and investment products, credit facility, trading at money market, transfer of money, managing portfolios of stocks, etc. All NBFCs are engaged in leasing, infrastructure finance, hire purchase, venture capital finance, housing finance, etc. NBFCs are generally not allowed to accept repayable deposits but they can accept term deposits.&nbsp;</p>
<h2><strong>What are Microfinance Companies?</strong></h2>
<p><strong><a href="https://muds.co.in/micro-finance-company-registration/" target="_blank" rel="noreferrer noopener">Microfinance Company</a></strong> or Institution (MFI) operate at a smaller level compared to NBFCs. It serves the similar motive of NBFCs that is, providing lending services to the underprivileged and impoverished sections of the society that do not have an access to traditional banking facilities. MFI lends small funds to the poor people that vary from Rs. 1000 to 20000 for starting a business. There have been complaints of MFIs regarding irregularities in their functioning as they charge relatively higher interest rates than the NBFCs. Besides, it mainly indulges in giving loans in contravention to the directives issued to such MFI to newly formed groups within 15 days of formation.</p>
<h3><strong>How they Differ from NBFCs?</strong></h3>
<p>The state governments have taken some steps to convert MFIs into NBFCs to ensure better regulation by RBI. Also, MFIs wants to get NBFC status because they will get access to wide-scale funding from banks.&nbsp;</p>
<p>Both <strong><a href="https://muds.co.in/micro-finance-company-registration/" target="_blank" rel="noreferrer noopener">NBFC and Microfinance Companies</a></strong> play an important role in rural areas. Where there is an absence of banks, the Non-banking financial institution can perform similar functions like a bank. Although, Non-Banking Financial company cannot issue checks drawn on itself it can facilitate term deposits and medium scale lending. On the other hand, MFI stands for Microfinance institutions which are established to operate at a smaller level than NBFC and provide small loans facilities to the underprivileged sections of the society. Unlike NBFCs, the MFIs are not regulated through any financial institution of the government.</p>
<h3><strong>Advantages of Opening an NBFC</strong></h3>
<ul>
<li>Ensures the smoother flow of credit for small debtors and so acts as an important tool of maintaining accuracy in the market.&nbsp;</li>
<li>Catering to a variety of clients in online/offline mode with a relatively smaller size of staff..</li>
<li>Reduces load on other lenders and hence loan processing time is also reduced leading to an overall increase in efficiency of the lending process.&nbsp;</li>
<li>Reduces the risk of lending bad loans as the profile of a customer is analysed by NBFCs before considering them eligibility for the loan.</li>
</ul>
<h3><strong>Getting NBFC License in India</strong></h3>
<p>The procedure to get the NBFC license is completed according to the master directions given by the Reserve Bank of India. The NBFC of this category should not have any client interface or a public fund. Let us understand the process of registration in the following section.</p>
<h3><strong>Eligibility Criteria for NBFC License and Registration</strong></h3>
<ul>
<li>The first step to be followed is the registration of the company according to the <a href="https://www.muds.co.in/nbfc-registration/" target="_blank" rel="noreferrer noopener"><strong>Companies Act, 2013</strong>.</a></li>
<li>The company must have some fundamental infrastructure that can support the offering of such services.&nbsp;</li>
<li>The company must have an adequate capital structure to seamlessly offer account aggregator services.&nbsp;</li>
<li>The general image of the company’s administration should be free or unbiased of public intrigue.&nbsp;&nbsp;</li>
<li>A prerequisite amount of Rs. 2 crores are required to apply for getting the certificate of registration from RBI. Without getting the <strong><a href="https://www.muds.co.in/nbfc-registration/" target="_blank" rel="noreferrer noopener">registration certificate the company</a></strong> won’t be allowed to operate as an NBFC.&nbsp;</li>
<li>The company should provide information related to its data innovation framework that can provide services of account aggregation.&nbsp;</li>
</ul>
<p>It is recommended that new entrepreneurs should reach out to firms specializing in the registration process. These firms have experts who can help the customers to get their NBFC license easily. Hiring an expert will help to compile all the necessary documents, filing the Application correctly, and getting all the verification and paperwork done on time. So, do not wait any more, just hire an expert from any reputed firm and get your <strong><a href="https://muds.co.in/nbfc-registration-process/" target="_blank" rel="noreferrer noopener">NBFC license</a></strong> as soon as possible.</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/nbfc-vs-micro-financing-institution/">NBFC Vs Micro Financing Institution: Things to Know before Setting Up Finance Company</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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		<title>NBFC Registration Procedure And License With RBI In India</title>
		<link>https://muds.co.in/rbi-nbfc-registration/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Tue, 09 Jul 2019 06:27:01 +0000</pubDate>
				<category><![CDATA[NBFC Weekly Digest]]></category>
		<category><![CDATA[NBFC Incorporation]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<category><![CDATA[nbfc registration procedure]]></category>
		<category><![CDATA[NBFCs]]></category>
		<guid isPermaLink="false">https://muds.co.in/nbfc-registration-procedure-and-license-with-rbi-in-india/</guid>

					<description><![CDATA[<p>Knowing a Non-banking Financial Company in Detail An NBFC is actually a company that is registered under the 1956, Companies Act and is typically involved in the act of providing advances and loans or acquisition of stocks/bonds/shares/securities/debentures which are issued either by the Government or local authority. Desirous of Exploring The NBFC Sace? The rapidly-growing [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/rbi-nbfc-registration/">NBFC Registration Procedure And License With RBI In India</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[		<div data-elementor-type="wp-post" data-elementor-id="8481" class="elementor elementor-8481">
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                        		<div class="elementor-element elementor-element-d4ed45c elementor-widget elementor-widget-text-editor" data-id="d4ed45c" data-element_type="widget" data-widget_type="text-editor.default">
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			<style>/*! elementor - v3.16.0 - 09-10-2023 */
.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}</style>				<h2><b>Knowing a Non-banking Financial Company in Detail</b></h2><p>An <a href="https://www.muds.co.in/nbfc-registration/">NBFC</a> is actually a company that is registered under the 1956, Companies Act and is typically involved in the act of providing advances and loans or acquisition of stocks/bonds/shares/securities/debentures which are issued either by the Government or local authority.</p><h3>Desirous of Exploring The NBFC Sace?</h3><p>The rapidly-growing Indian economy has provided an excellent opportunity to Non-Banking Financial Companies (NBFCs) in creating a niche for themselves in recent years.</p><p>The NBFCs do not hold banking licenses but they offer almost every service that banks do including accepting deposits, offering loans, performing financial intermediation, offering cash advances, leasing, hire purchases, etc.</p><p>In a thickly populated country like India, mainstream banking services are not capable of fulfilling the financial needs of all the citizens. Owing to this fact, the NBFC has been able to carve a space for itself by making inroads into the country.</p><p>NBFCs have grown at a remarkable pace in the last decade as a consequence of their customer-friendly approach, great flexibility, and attractive rate of returns. They cater to the urban and the rural, the needy and the deprived, as they have penetrated small towns and villages.</p><h3><b>Understanding What Does Conducting Financial Activity as ‘Principal Business’ Means</b></h3><p>An organisation is said to be primarily involved in Financial Activities when its assets constitute more than fifty percent of the total assets and income from financial assets contribute to more than 50 percent of the gross income. Also, the RBI would register any such company which fulfills the above requirements as an NBFC. The RBI has not given any stipulated definition for the term ‘principal business’ but only companies involved in financial activities get registered with it and it acts as a supervisory and regulatory body.</p><h3>Who Is The Regulatory Authority of NBFCs?</h3><p>The working and operating of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934. From time to time the RBI issues guidelines and directions to be followed by the NBFCs.</p><p>Section 45-IA mandates that no NBFC shall begin or carry on the business of a Non-Banking Financial Institution without obtaining a Certificate of Registration (COR) from the RBI.</p><h3>Know The Areas of Business of NBFCs</h3><p>These will throw light on the wide scope of business opportunities of NBFCs.</p><ol><li>Acquisition of shares/ stocks/ securities/ bonds/ debentures issued by the Government or other authorities,</li><li>Loans and Advances,</li><li>Insurance Business,</li><li>Chit Business,</li><li>Hire-purchase,</li><li>Leasing.</li></ol><h3>Services that NBFCs Cannot Offer:</h3><p><img fetchpriority="high" decoding="async" class="wp-image-6382 aligncenter" src="https://muds.co.in/wp-content/uploads/2019/07/NBFC-Services.jpg" alt="NBFC Services" width="538" height="269" /></p><p>RBI clearly defines the domains which cannot be touched by the NBFCs:</p><ul><li>agricultural activity,</li><li>industrial activity,</li><li>purchase or sale of any goods (other than securities), or</li><li>providing any services, sale or purchase, or construction of the immovable property.</li></ul><h3><b>What makes an NBFC different from a Bank?</b></h3><p>Lending money and making investments is a common thread that makes the functioning of a bank and an NBFC alike. But actually, the two are really different from each other.</p><p>#1. A bank accepts demand deposits while an NBFC cannot.</p><p>#2. Banks actually form part of the payment and settlement system and issue cheques drawn on itself whereas an NBFC simply cannot perform this task as it is outside its working domain.</p><p>#3. The banks allow deposit insurance facility of the Deposit Insurance and Credit Guarantee Corporation which is available to the depositor. But for an NBFC, this facility does not work at all.</p><h3>Different Categories of NBFCs Registered With RBI</h3><p>The NBFCs are categorized here based on the kind of activity they primarily undertake, knowing about them shall provide you insight as to your own preferences.</p><ul><li>Non-Banking Financial Company-<a href="https://muds.co.in/micro-financing-and-nbfcs/setting-up-of-micro-finance-business/">Micro Finance Institution</a></li><li>Infrastructure Debt Fund Non- Banking Financial Company</li><li>Systemically Important Core Investment Company</li><li>Non-Banking Financial Company-Factors</li><li>NBFC- Non-Operative Financial Holding Company</li><li>Mortgage Guarantee Companies</li><li>Infrastructure Finance Company</li><li>Asset Finance Company</li><li>Investment Company</li><li>Loan Company</li></ul><h3><b>Understanding Systematically Important NBFCs</b></h3><p>Systematically Important NBFCs are those whose asset size if equal to or greater than 500 crores as per the latest audited balance sheet. They are classified differently as they have an impact on the financial stability of the overall economy. <b> </b></p><h3>Eligibility Norms For Registration of NBFCs</h3><p>You should be ready with this pre-work before you seek <span style="color: #0000ff;"><a style="color: #0000ff;" href="https://muds.co.in/nbfc-incorporation/">NBFC incorporation</a>.</span></p><ul><li>Company should be registered under the Companies Act, 2013 or Companies Act, 1956</li><li>Company should have Minimum Net Owned Fund of INR 2 crore</li></ul><p>(Net Owned Funds to be calculated on the basis of the last audited balance sheet of the Company)</p><h3>The Procedure of Registration of NBFCs</h3><p>It shall be beneficial for you to know in brief about the procedure of Registration of NBFC:</p><ul><li>First formality is an incorporation of the applicant company under the Companies Act, 1956 or 2013, with Minimum</li><li>Net Owned Fund of INR 2 crore (Equity Share Capital &amp; not Preference Share Capital).</li><li>Thereafter the applicant company needs to open a Bank Account and keep the entire sum of INR 2 crores in the bank’s deposit account, which should be free from all liens.</li><li>The applicant is then required to apply for registration online on RBI’s official COSMOS website.</li><li>Post submission of the form, CARN (Company Application Reference Number) is generated that is helpful in future references.</li><li>Subsequently, the hard copies of all the documents are required to be submitted to the concerned Regional Office of RBI.</li><li>The Regional Office shall scrutinize the authenticity of the documents and on being satisfied, shall forward it to the Central Office.</li><li>The Central Office of RBI grants the NBFC registration only after the fulfillment of all prescribed requirements by the company under section 45-IA, of its act of 1934.</li></ul><h3>Also Read:-</h3><ul><li><a href="https://muds.co.in/checklist-incorporation-nbfc/"><strong>Checklist for Incorporation of NBFC</strong></a></li><li><strong><a href="https://muds.co.in/nbfc-registration-procedure-service-delhi/">NBFC Registration Procedure and Service in Delhi</a></strong></li></ul><h3><b>Is RBI NBFC Registration mandatory?</b></h3><p>Yes, the given registration is a mandatory requirement for every NBFC. An NBFC cannot begin its business if the following two demands are not fulfilled:</p><p>#1. Net Owned Funds amounting to ₹25 lakhs.</p><p>#2. Registration with RBI.</p><p>On the contrary, a few categories of NBFC are exempted from this rule as they are governed by other regulatory authorities. For example, Merchant Banking Companies, Venture Capital Fund, Stock Broking Companies etc. are registered with SEBI. This process has been initiated to avoid doubling of regulations. </p><h3><b>The RBI <a href="https://muds.co.in/nbfc-registration-process/">NBFC Registration Procedure</a></b></h3><p><img decoding="async" class="alignnone wp-image-6383" src="https://muds.co.in/wp-content/uploads/2019/07/RBI-NBFC-Registration-Procedure.jpg" alt="RBI NBFC Registration Procedure" width="558" height="279" /></p><p>The following essential documents are to be submitted along with the application form at the Regional Office of the Reserve Bank Of India:</p><p>#1. Checking the checklist carefully</p><p>#2. Common NBFC Application Form</p><p>#3. Forms relating to the Periodical Returns</p><p>#4. Other Miscellaneous Forms</p><h3><b>Highlighting the powers of Reserve Bank Of India in regards to NBFCs that Meet the 50-50 Criteria</b></h3><p>The RBI Act 1937, gives rights and powers to the Reserve Bank for registering, lying down policies, issuing directions, inspecting, regulating, supervising, and exercising surveillance over the various NBFCs that actually meet the 50-50 requirements of principal business.</p><p>The NBFCs can be penalized if they violate the provisions laid by the RBI Act. This can even lead to the cancellation of Certificate of Registration that was issued to the NBFC. This would even prohibit the NBFC from accepting deposits.</p><h3><b>Where to look out for Registered NBFCs and instructions issued to NBFC?</b></h3><p>The list of registered NBFCs and the various notifications are available on the Reserve Bank of India website www.rbi.org.in</p><h3><b>Responsibilities of NBFCs that are registered with Reserve Bank of India regarding the submission, compliances, and other information</b></h3><p><strong>The deposit-taking NBFCs have to submit the following returns:</strong></p><ol><li><b>NBS-1</b> Quarterly Returns on deposits in First Schedule.</li><li><b>NBS-2</b> Quarterly return on Prudential Norms is required to be submitted by NBFC accepting public deposits.</li><li><b>NBS-3</b> Quarterly return on Liquid Assets by deposit taking NBFC.</li><li><b>NBS-4</b> Annual return of critical parameters by a rejected company holding public deposits. (NBS-5 stands withdrawn as submission of NBS 1 has been made quarterly.)</li><li><b>NBS-6</b> Monthly return on exposure to capital market by deposit taking NBFC with total assets of ₹ 100 crore and above.</li><li><b>Half-yearly ALM return</b> by NBFC holding public deposits of more than ₹ 20 crores or asset size of more than ₹ 100 crore</li><li>Audited Balance sheet and Auditor’s Report by NBFC accepting public deposits.</li><li>Branch Info Return.</li></ol><p><strong>Various Returns Submitted by NBFCs</strong></p><ol><li><b>NBS-7</b> A Quarterly statement of capital funds, risk weighted assets, risk asset ratio etc., for NBFC-ND-SI.</li><li><b>Monthly Return on Important Financial Parameters of NBFCs-ND-SI.</b></li><li><b>ALM returns:</b><b><br /></b>(i) Statement of short term dynamic liquidity in format ALM [NBS-ALM1] -Monthly,<br />(ii) Statement of structural liquidity in format ALM [NBS-ALM2] Half yearly,<br />(iii) Statement of Interest Rate Sensitivity in format ALM -[NBS-ALM3], Half yearly</li></ol><h3>Keep These Documents Ready Before Applying for NBFC Registration</h3><h3>Along with the application, there is a long list of documents to be submitted:</h3><ul><li>Certificate of Incorporation (Certified Copy Issued by ROC)</li><li>Extract of Main Object Clause in MOA (Clearly depicting Financial Business)</li><li>Board of Resolution stating the following before getting registration from RBI:</li><li>Adherence to the “Fair Practices Code (as per RBI guidelines)</li><li>Non-carrying out any NBFC activity</li><li>Non-carrying out of acceptance of any public deposit </li><li>Audited Balance Sheet &amp; Profit &amp; Loss account along with directors and auditor&#8217;s report (for the entire period of the company’s existence or last 3 years, whichever is less)</li><li>Director’s Highest Educational &amp; Professional Qualification (Copy of certificate)</li><li>Director’s experience in the Financial Services Sector, including the Banking Sector (Copy of certificate)</li><li>Details of deposits &amp; loans balances as on the date of application &amp; conduct of account (Bankers report)</li></ul><h3>The Most Opportune Time For NBFCs</h3><p>This can be called the most lucrative period to venture into NBFC business as the economy is thriving. The banks still have a lot of ground to cover and the vacuum left by them is being tapped by NBFCs in various segments. The earlier you enter this space, the more customers you will be able to capture, carving a bright future for your company.</p><h3>Significant Factors Working In Favour of NBFCs</h3><ul><li>Simplification of norms means attracting more customers is easier for NBFCs.</li><li>The freedom to structure the products as per the needs of the customer gives it an edge over others.</li><li>NBFCs have a definite advantage over banks as they can capture customers from the remotest of places.</li><li>The operational costs are lower which result in higher earnings for such companies.</li></ul><h3>Contact MUDS At The Earliest For A Bright Future!</h3><p>MUDS consultancy firm has an efficient team of professionals who are adept in extending swift services like <strong><a href="https://www.muds.co.in/nbfc-registration/">NBFC registration</a></strong>.</p><p>Their impeccable track record speaks for their efficiency and capabilities.</p><p>They will ensure attainment of COR in the shortest time period and without any botheration to you.</p><blockquote><p>&#8220;The future of NBFCs in India is secure for many years to come, therefore, the sooner you capture this space, the better it would be!&#8221;<br />-Shweta Gupta, Founder, and CEO, <a href="/">MUDS</a></p></blockquote>						</div>
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		<p>The post <a rel="nofollow" href="https://muds.co.in/rbi-nbfc-registration/">NBFC Registration Procedure And License With RBI In India</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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		<title>Best NBFC Registration Consultant In India</title>
		<link>https://muds.co.in/best-nbfc-registration-consultant-in-india/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Mon, 08 Jul 2019 05:12:49 +0000</pubDate>
				<category><![CDATA[NBFC Weekly Digest]]></category>
		<category><![CDATA[NBFC]]></category>
		<category><![CDATA[NBFC Incorporation]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<guid isPermaLink="false">https://muds.co.in/best-nbfc-registration-consultant-in-india/</guid>

					<description><![CDATA[<p>With the growth of the economy, the demands of financial services have grown and this has led to a spurt in the registration of NBFCs (Non-Banking Finance Company) in India. Banks have a limited reach as they are bound by rigid rules and regulations, thus, they are unable to cater to the needs of all. [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/best-nbfc-registration-consultant-in-india/">Best NBFC Registration Consultant In India</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>With the growth of the economy, the demands of financial services have grown and this has led to a spurt in the <a href="https://muds.co.in/nbfc-registration-process/">registration of NBFCs</a> (Non-Banking Finance Company) in India.</p>
<p>Banks have a limited reach as they are bound by rigid rules and regulations, thus, they are unable to cater to the needs of all. There existed a huge gap between demand and supply, leaving a vacuum.</p>
<p>The NBFCs very smartly and strategically creeped into this space and today they are a major player in shaping the future of the country.</p>
<h2>Contemplating Venturing Into NBFC Space?</h2>
<p>Wanting to step into the world of NBFC, naturally, you will want to do it at the earliest!</p>
<p>For initiating the process, you need to zero in on the most reliable and efficient consultant who would inform, guide and hold hands till the incorporation of your company as an NBFC.</p>
<p>Expert and experienced professional firm will help your company to scale the entire journey smoothly, as there are numerous factors to be adhered to.</p>
<h3>Confused Over How To Select The Finest Consultant Firm?</h3>
<p>Like for all other services, the same factors aid in shortlisting and selecting the best <a href="https://muds.co.in/nbfc-registration/">NBFC Registration</a> Consultant in India- research, review, referral, etc.<br />
There is a parameter on which you can test the worthiness of a company:</p>
<ul>
<li>Credibility</li>
<li>Experience</li>
<li>Performance record</li>
<li>Most competent employees</li>
<li>Adapting modernization techniques</li>
<li>Professionalism</li>
<li>Cost-effective</li>
<li>Time-bound results</li>
<li>Success rate</li>
<li>Client reviews</li>
</ul>
<p>But then the question is that there are hundreds of such firms and to research all of them and find out one, is not possible.</p>
<h3>Why Should You Trust MUDS?</h3>
<p>MUDS- The Management Consultancy Firm is committed to complete solutions!</p>
<p>Approach <strong><a href="https://muds.co.in">MUDS</a></strong> for unparalleled services as it is a firm which provides the best of services and has proven its efficiency in the years since its inception.</p>
<ul>
<li>The mission of the firm is, “Challenging ourselves to bring new and original ways of thinking.”</li>
<li>The Firm conforms to all the above-mentioned criteria in totality and boasts of an exemplary team of professionals.</li>
<li>Their team comprises of a mix of professionals from diverse backgrounds resulting in catering to all kinds of clients.</li>
<li>MUDS has a completely dedicated team for NBFC registration which has helped many companies in getting <a href="https://muds.co.in/nbfc-registration-process/">NBFC license</a> in record time.</li>
<li>The team is adept to comprehend the clients’ circumstances and requirements and dispense reliable, honest and thoroughgoing advice accordingly.</li>
<li>MUDS stands out as the best registration consultant in India as it always lays great emphasis on professional and ethical accountability and therefore, it is result oriented and cost-effective.</li>
<li>With their pan India presence, they extend services everywhere, guiding and supporting at every step.</li>
</ul>
<blockquote><p>&#8220;Our steadfast commitment &amp; professional fairness has led to forging a long-lasting relationship with all our clients.&#8221;<br />
&#8211; Kritika Chabbra (Market Analyst, MUDS Management Pvt. Ltd.)</p></blockquote>
<h3>What Will MUDS Do?</h3>
<p>MUDS will be with you from initiation to completion, that is, till <a href="https://muds.co.in/nbfc-incorporation/">NBFC incorporation</a>.</p>
<p>The NBFCs do not hold banking license but they offer almost every service that banks do including accepting deposits, offering loans, performing financial inter-mediation, offering cash advances, leasing, hire-purchase, etc.</p>
<p>Section 45-IA mandates that no NBFC shall begin or carry on the business of a Non-Banking Financial Institution without obtaining a Certificate of Registration (COR) from the RBI.</p>
<p>One should be ready with this pre-work before seeking NBFC incorporation:</p>
<ul>
<li>Company should be registered under the Companies Act, 2013 or Companies Act, 1956</li>
<li>Company should have Minimum Net Owned Fund of INR 2 crore</li>
</ul>
<p>(Net Owned Funds to be calculated on the basis of the last audited balance sheet of the Company)</p>
<h3><strong>Also Read:-&nbsp;</strong></h3>
<ul>
<li><strong><a href="https://muds.co.in/eligibility-norms-start-nbfc-business/">What are the Eligibility Norms to Start a NBFC Business?</a></strong></li>
<li><a href="https://muds.co.in/checklist-incorporation-nbfc/"><strong>Checklist for Incorporation of NBFC</strong></a></li>
</ul>
<h3>Be Aware of The Businesses That NBFCs Can Offer:</h3>
<p>There is a wide scope of business opportunities for NBFCs in India:</p>
<ol>
<li>Insurance Business,</li>
<li>Loans and Advances,</li>
<li>Leasing,</li>
<li>Chit Business,</li>
<li>Hire-purchase,</li>
<li>Acquisition of shares/ stocks/ securities/ bonds/ debentures issued by the Government or other authorities,</li>
</ol>
<h3>Services that NBFCs cannot offer:</h3>
<p>RBI clearly defines the domains which cannot be touched by the NBFCs:</p>
<ul>
<li>agricultural activity,</li>
<li>industrial activity,</li>
<li>purchase or sale of any goods (other than securities), or</li>
<li>providing any services, sale or purchase or construction of an immovable property.</li>
</ul>
<h3><a href="https://muds.co.in/nonbanking-financial-company/">Types of NBFCs</a>:</h3>
<p>For the purpose of registration, the RBI has categorized the NBFCs into two types, the first one is Type-I, NBFC (NBFC-ND) and the second one is Type-II, NBFC (NBFC-ND).</p>
<p><strong>Type-I NBFC (NBFC-ND)</strong> are those which are not accepting public funds/ not intending to accept public funds in the future and not having customer interface/not intending to have customer interface in the future.</p>
<p><strong>Type-II NBFC (NBFC-ND)</strong> are those which are accepting public funds/ intending to accept public funds in the future and/or having customer interface/intending to have customer interface in the future.</p>
<p>The RBI has categorically stated that Type-I NBFCs shall be subjected to less intensive scrutiny or <strong><a href="https://muds.co.in/due-diligence-of-corporate-debtor/">due diligence</a></strong> and the processing of such applications shall be put on the fast track for processing. However, they shall be barred from accessing the public funds or having customer interface.</p>
<h3>The Procedure of Registration of NBFCs In Brief:</h3>
<p><strong>It shall be beneficial for you to know in brief about the <a href="https://muds.co.in/nbfc-registration-process/">NBFC Registration Procedure</a>:</strong></p>
<ul>
<li>First is the incorporation of the applicant company under the Companies Act, 1956 or 2013, with Minimum Net Owned Fund of INR 2 crore.</li>
<li>Then the applicant company needs to open a Bank Account and keep the entire sum of INR 2 crores in the bank’s deposit account, which should be free from all liens.</li>
<li>The applicant is then required to apply for registration online on RBI’s official COSMOS website.</li>
<li>Post submission of the form, CARN (Company Application Reference Number) is generated that is helpful in future references.</li>
<li>Subsequently, the hard copies of all the documents are required to be submitted to the concerned Regional Office of RBI.</li>
<li>The Regional Office shall scrutinize the authenticity of the documents and on being satisfied, shall forward it to the Central Office.</li>
<li>The Central Office of RBI grants the NBFC registration only after the fulfillment of all prescribed requirements by the company under section 45-IA, of its act of 1934.</li>
</ul>
<p>Thus, it is evident that there are lots of factors to be looked into and coordinated for expediting the <a href="https://muds.co.in/nbfc-registration-procedure/">process of registration of NBFC</a>.</p>
<blockquote><p>&#8220;The earnest devotion, honest dedication and ardent professionalism of each one of our team members is undoubtedly the principal reason for our steadfast progress over the years!&#8221;<br />
-Shweta Gupta, Founder, and CEO, MUDS</p></blockquote>
<p>The post <a rel="nofollow" href="https://muds.co.in/best-nbfc-registration-consultant-in-india/">Best NBFC Registration Consultant In India</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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		<title>What Are NBFC Registration Checklist?</title>
		<link>https://muds.co.in/what-are-nbfc-registration-checklist/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Fri, 05 Jul 2019 09:47:49 +0000</pubDate>
				<category><![CDATA[NBFC Weekly Digest]]></category>
		<category><![CDATA[NBFC]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<guid isPermaLink="false">https://muds.co.in/what-are-nbfc-registration-checklist/</guid>

					<description><![CDATA[<p>What Are NBFC Registration Checklist? Understanding NBFCs! Non-Banking Financial Companies (NBFC) do not fall in the legal definition of Banks but they proffer banking facilities and financial services. It is a well-known fact that Banks are not able to cater to the financial needs of all Indians, however hard they try; therefore, more and more [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/what-are-nbfc-registration-checklist/">What Are NBFC Registration Checklist?</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>What Are NBFC Registration Checklist?</h1>
<h2>Understanding NBFCs!</h2>
<p>Non-Banking Financial Companies (NBFC) do not fall in the legal definition of Banks but they proffer banking facilities and financial services. It is a well-known fact that Banks are not able to cater to the financial needs of all Indians, however hard they try; therefore, more and more companies are applying for <a href="https://www.muds.co.in/nbfc-registration/">NBFC Registration</a>.</p>
<p>The functioning of NBFCs is regulated and monitored by the RBI in compliance with the provisions mentioned in Chapter III B of the RBI Act of 1934.</p>
<p>The segments which are largely served by the NBFCs are instruments of the capital and money markets such as stocks, bonds, along with hire-purchasing, deposits, leasing, insurance business, investment funds, and chit business and many more similar activities.</p>
<h2>Soaring Popularity of NBFCs!</h2>
<p>The ever-growing popularity of NBFCs lies in these characteristic features:</p>
<ul>
<li>RBI has eased the norms a great deal thus making <a href="https://www.muds.co.in/nbfc-incorporation/">NBFC incorporation</a> simpler.</li>
<li>The biggest advantage awarded to NBFCs is the flexibility to structure products as per the needs of the customer.</li>
<li>NBFCs enjoy complete liberty to operate from anywhere and everywhere; in remotest of places to the most developed metros, thus attracting and capturing new customers.</li>
<li>Low operative costs make sure that high profits come their way since inception.</li>
<li>Taking full advantage of modern technological progress helps them not only target new customers but also help them ascertain their creditworthiness.</li>
</ul>
<h2>Know The Different Categories of NBFCs!</h2>
<p>For the purpose of registration, the RBI has categorized the NBFCs into two types, the first one is Type-I, NBFC (NBFC-ND) and the second one is Type-II, NBFC (NBFC-ND).</p>
<p><strong>Type-I NBFC (NBFC-ND)</strong> are those which are not accepting public funds/ not intending to accept public funds in the future and not having customer interface/not intending to have customer interface in the future.</p>
<p><strong>Type-II NBFC (NBFC-ND)</strong> are those which are accepting public funds/ intending to accept public funds in the future and/or having customer interface/intending to have customer interface in the future.</p>
<p>The RBI endorses that Type-I NBFCs shall be subjected to less intensive scrutiny or due diligence and the processing of such applications shall be put on the fast track for processing. However, they shall be barred from accessing the public funds or having customer interface.</p>
<h2>Checklist of Documents Needed For NBFC Registration</h2>
<p>If you want your company to be registered under Type-I NBFC, then take note that the following documents will have to be submitted along with the prescribed application form:</p>
<p><strong>1.</strong> Copies of Certificate of Incorporation (COI) and Certificate of Commencement of Business (in the case of public limited companies).</p>
<p><strong>2.</strong> Copies of extracts of the main object clause in the MOA relating to the financial business.</p>
<p><strong>3.</strong> Board resolution declaring that:</p>
<ul>
<li>The company is not carrying on any NBFC activity or has stopped NBFC activity and will not carry on neither commence the same before getting registration from RBI.</li>
<li>The UIBs in the group where the director holds substantial interest or otherwise has not accepted any public deposit in the past nor does not hold any public deposit as on the date and will not accept the same in future.</li>
<li>The company has formulated “Fair Practices Code” as per RBI Guidelines.</li>
<li>The company has not accepted public funds in the past nor does not hold any public fund as on date and will not accept the same in the future without the approval of the Reserve Bank of India.</li>
<li>The company does not have any customer interface as on date and will not have any customer interface in the future without the approval of the Reserve Bank of India.</li>
</ul>
<p><strong>4.</strong> Copy of Fixed Deposit receipt &amp; bankers’ certificate of no lien indicating balances in support of Net Owned Fund.</p>
<p><strong>5.</strong> For companies already in existence, the Audited balance sheet and Profit &amp; Loss account along with directors &amp; auditors report or for the entire period the company is in existence, or for the last three years, whichever is less, should be submitted.</p>
<p><strong>6.</strong> Banker’s report in respect of applicant company, its group/subsidiary/associate/holding company/related parties, directors of the applicant company having a substantial interest in other companies The Banker’s report should be about the dealings of these entities with these bankers as a depositing entity or a borrowing entity.</p>
<p><strong>Also Read:-</strong></p>
<ul>
<li><strong><a href="https://www.muds.co.in/eligibility-norms-start-nbfc-business/">What are the Eligibility Norms to Start a NBFC Business?</a></strong></li>
<li><a href="https://www.muds.co.in/pros-cons-nbfc-business-india/"><strong>Pros and Cons of NBFC Business in India</strong></a></li>
</ul>
<p><strong>In case you want to register under Type-II, NBFC (NBFC-ND), then the following documents are required to be furnished with the prescribed application form:</strong></p>
<p><strong>1.</strong> Certified copies of Certificate of Incorporation and Certificate of Commencement of Business in case of public limited companies.</p>
<p><strong>2.</strong> Certified copies of extract of only the main object clause in the MOA relating to the financial business.</p>
<p><strong>3.</strong> Board resolution stating that:</p>
<ul>
<li>The company is not carrying on any NBFC activity or has stopped NBFC activity and shall not carry on nor commence the same before getting registration from RBI.</li>
<li>The company has not accepted any public deposit, in the past (specify period) nor does hold any public deposit as on date and shall not accept the same in the future without seeking prior approval of Reserve Bank of India.</li>
<li>The UIBs in the group where the director holds substantial interest or otherwise has not accepted any public deposit in the past nor does not hold any public deposit as on the date and will not accept the same in future.</li>
<li>The company has formulated “Fair Practices Code” as per RBI Guidelines.</li>
</ul>
<p><strong>4.</strong> Copy of Fixed Deposit receipt &amp; bankers’ certificate of no lien indicating balances in support of Net Owned Fund.</p>
<p><strong>5.</strong> Companies that are already in existence, the Audited balance sheet and Profit &amp; Loss account along with directors &amp; auditors report or for the entire period the company is in existence, or for the last three years, whichever is less, should be submitted.</p>
<p><strong>6.</strong> Copy of the certificate of the highest educational and professional qualification in respect of all the directors.</p>
<p><strong>7.</strong> Copy of experience certificate, if any, in the Financial Services Sector (including Banking Sector) of all the directors.</p>
<p><strong>8.</strong> Banker’s report in respect of the applicant company, its group/subsidiary/associate/holding company/related parties, directors of the applicant company having a substantial interest in other companies.</p>
<blockquote><p>&#8220;With the RBI easing the norms for registration of NBFCs, this is the most opportune time to go for it!&#8221;<br />
-Shweta Gupta, Founder and CEO, <a href="/">MUDS</a></p></blockquote>
<p>The post <a rel="nofollow" href="https://muds.co.in/what-are-nbfc-registration-checklist/">What Are NBFC Registration Checklist?</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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		<title>NBFC Registration Service in Delhi</title>
		<link>https://muds.co.in/nbfc-registration-procedure-service-delhi/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Thu, 04 Jul 2019 07:35:59 +0000</pubDate>
				<category><![CDATA[NBFC Weekly Digest]]></category>
		<category><![CDATA[NBFC]]></category>
		<category><![CDATA[NBFC Incorporation]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<guid isPermaLink="false">https://muds.co.in/nbfc-registration-service-in-delhi/</guid>

					<description><![CDATA[<p>Are You Looking To Cash In On NBFC Wave? It is a known fact that in recent years Non-Banking Financial Companies (NBFCs) have performed extremely well. By filling up the void left by the banks, they have penetrated in the small towns and cities, offering services like loans, acquisition of shares, stocks, debentures and securities, [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/nbfc-registration-procedure-service-delhi/">NBFC Registration Service in Delhi</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>Are You Looking To Cash In On NBFC Wave?</h2>
<p>It is a known fact that in recent years Non-Banking Financial Companies (NBFCs) have performed extremely well.</p>
<p>By filling up the void left by the banks, they have penetrated in the small towns and cities, offering services like loans, acquisition of shares, stocks, debentures and securities, leasing, hire purchase, insurance business, chit business, etc.</p>
<p>The NBFCs are not bound by the strict norms of a bank, yet they are privileged to offer banking facilities and financial services, with a few regulatory restrictions.</p>
<p>There are many <a href="https://muds.co.in/nonbanking-financial-company/">types of NBFCs</a> based on the nature of the activity, for example, <a href="https://muds.co.in/micro-finance-company-registration/">Microfinance Company</a>, Loan Company, Housing Finance Company, etc.</p>
<h3>Know About NBFC Registration Eligibility</h3>
<p>The RBI is the regulatory body for NBFCs and hence, they are required to be registered by it and to follow the banking regulations laid down by Section 45-IA of the RBI Act of 1934.</p>
<h3><strong>Prior to seeking registration from RBI, the entity desirous of it should fulfill the given criteria:</strong></h3>
<ul>
<li>A company should be incorporated under the Companies Act, 2013 or Companies Act, 1956</li>
<li>A company should have a Minimum Net Owned Fund of INR 2 crore</li>
<li>(Net Owned Funds to be calculated on the basis of the last audited balance sheet of the Company)</li>
</ul>
<h3><a href="https://muds.co.in/nbfc-registration-process/">NBFC Registration Procedure</a> In Brief</h3>
<p>After fulfilling the two above mentioned eligibility criteria, a company can follow the given steps to register:</p>
<ol>
<li>The applicant is required to apply for registration online on RBI’s official COSMOS website.</li>
<li>Post submission of the form, CARN (Company Application Reference Number) number is granted that will aid in future inquiries.</li>
<li>Subsequently, the company is required to submit the hard copies of all the documents to the concerned Regional Office of RBI.</li>
<li>The Regional Office shall scrutinize the authenticity of the documents and if satisfied, shall forward it to the Central Office.</li>
<li>The Central Office of RBI grants the <a href="https://muds.co.in/nbfc-registration/">NBFC registration</a> only after the fulfillment of all prescribed requirements by the company under section 45-IA, of its act of 1934.</li>
<li>Along with this, an exhaustive list of documents is there which has to be submitted along with the application to the RBI.</li>
</ol>
<h3>This Is The Best Time To Seek NBFC Incorporation!</h3>
<p>This is the aptest time to venture into the <a href="https://muds.co.in/nbfc-registration/">NBFC</a> business as the ever-growing demand for financial services has opened up vast space which can accommodate many players.</p>
<p>The Banks can hardly cater to the financial requirements of such a huge population; thus, this space can be occupied by NBFCs. The earlier you enter a segment, the more beneficial it shall be for the company.</p>
<h3>The Biggest Factors Working In Favour of NBFCs!</h3>
<ol>
<li>Simplified norms of doing business give them the upper hand in dealing with customers.</li>
<li>The flexibility to structure products as per customers’ needs is a sure shot advantage.</li>
<li>They have a definitive edge over banks as they are free to operate in remotest of places, attracting and capturing new customers.</li>
<li>Low operative costs ascertain high profits since inception.</li>
<li>Modern technology assists in not only targeting new customers but also help in identifying their worthiness.</li>
</ol>
<h3>Looking For NBFC Registration In Delhi?</h3>
<p><a href="https://muds.co.in">MUDS Consultancy Firm</a> is competent to accomplish all formalities of NBFC registration within the shortest period. Proficient professionals of MUDS have tons of experience over the years to give the best of services in the most cost-effective way.</p>
<p>MUDS has been detrimental in the success story of 300+ NBFCs by helping them through the entire process of incorporation. Give your financial dreams wings to soar high by contacting the exemplary team of MUDS, which has pan India presence.</p>
<blockquote><p>&#8220;NBFCs offering multiple product lines, are sure to witness an astronomical growth in their business!&#8221;<br />
-Shweta Gupta, Founder, and CEO, MUDS</p></blockquote>
<p>The post <a rel="nofollow" href="https://muds.co.in/nbfc-registration-procedure-service-delhi/">NBFC Registration Service in Delhi</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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		<title>2X Jump in Sales of White Goods. How?</title>
		<link>https://muds.co.in/2x-jump-sales-white-goods/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Mon, 10 Jun 2019 05:35:32 +0000</pubDate>
				<category><![CDATA[NBFC Weekly Digest]]></category>
		<category><![CDATA[NBFC]]></category>
		<category><![CDATA[NBFC Incorporation]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<guid isPermaLink="false">https://muds.co.in/2x-jump-in-sales-of-white-goods-how/</guid>

					<description><![CDATA[<p>2X Jump in Sales of White Goods. How? &#160; White Goods? What Is in a Colour! White good is a British concept that refers to heavy consumer durables like refrigerators, washing machines, dishwashers, air conditioners, etc. that were traditionally manufactured only in white colour. Times have changed and today a consumer is spoilt for choice [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/2x-jump-sales-white-goods/">2X Jump in Sales of White Goods. How?</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>2X Jump in Sales of White Goods. How?</h1>
<p>&nbsp;</p>
<h2>White Goods? What Is in a Colour!</h2>
<p>White good is a British concept that refers to heavy consumer durables like refrigerators, washing machines, dishwashers, air conditioners, etc. that were traditionally manufactured only in white colour.</p>
<p>Times have changed and today a consumer is spoilt for choice as these products come in varied colours and designs, thus we generally prefer calling them as domestic appliances, rather than ‘White Goods’!</p>
<h2>Consumerism On The Rise!</h2>
<p>This decade has seen a social revolution which has encouraged consumerism and the grounds for this are numerous. Dual income families, nuclear families, digitization, exposure, easy loans, etc. have prompted people to buy consumer durables quite frequently.</p>
<p>A spurt in the sales of such goods came around a few years back when NBFCs tapped this sector and started offering loans at easy EMIs and low interest. Most of the times, the loans offered are at zero interest which means no extra burden on the consumer, encouraging them to buy the best they can afford.</p>
<h2>How Does It Work for NBFCs?</h2>
<p>NBFCs have not only penetrated this segment but have captured the market at a rapid pace. Going by economics it makes no sense to hand out interest-free finance schemes! The strategy here is that the interesting part is borne by the manufacturer of goods, who in return sees high volumes in sales of its products.</p>
<h2>Ease of Availing The Finance Scheme!</h2>
<p>The biggest lure of these schemes is that they can be easily availed by a consumer in the shop itself, with minimal formalities, it is done within five minutes. The flexibility of EMIs makes sure that it is easy on the pocket of the buyer too!</p>
<h2>Penetration of NBFCs Far &amp; Wide!</h2>
<p>The reason for NBFCs doing so exceedingly well in this sector is that they are no more confined to the metros anymore. They have ventured into tier 1 and tier 2 cities, realizing that the consumers affordability has risen in such places.</p>
<p>Digitization has also played a major role as it has actually made the world small, everyone stays updated on the latest trends. Social media plays a pivotal role in people wanting to raise their living standards.</p>
<p>The concept of modern living and the apartment culture has given rise to the aspirations of this generation to live life well! So, a huge smart tv is no more a luxury but a necessity; the latest iPhone is a symbol of status and gone are the days of small refrigerators or semi-automatic washing machines!</p>
<h2>Hunting for Opportunities to Grow Your Business?</h2>
<p>If you are eyeing the NBFC space then do not wait anymore and go for <a href="https://www.muds.co.in/nbfc-registration/">NBFC Registration</a> and <a href="https://www.muds.co.in/nbfc-incorporation/">NBFC Incorporation</a> at the earliest. The sooner you take a leap, the more rewarding it will be!</p>
<p>Once your company is compliant you can exploit the varied segments including the white goods space. According to the statistics published last year, this space has witnessed a stunning growth of 29% in 2017-2018, proving that there is a lot of scope in the coming years.</p>
<h2>Road Ahead!</h2>
<p>To make the most of it, it is essential to tighten your belt and start working towards getting your NBFC functional promptly and lead your company on a fast track. A country with such a huge population and rising incomes is a bed of opportunities for NBFCs.</p>
<h2>MUDS: A Sure Shot Guidance To Prosperity!</h2>
<p>By seeking professional help from MUDS towards establishing your NBFC, you are surely going to get rewarded at the earliest as the professionals here will accomplish the task conclusively and positively!</p>
<blockquote><p>&#8220;Consumer durable financing has been witnessing a spurt in the past few years and going by the indications it is paused for a leapfrog in the coming years!&#8221;<br />
-Shweta Gupta, Founder and CEO, <a href="/">MUDS</a></p></blockquote>
<p>The post <a rel="nofollow" href="https://muds.co.in/2x-jump-sales-white-goods/">2X Jump in Sales of White Goods. How?</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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		<title>What are the Eligibility Norms to Start a NBFC Business?</title>
		<link>https://muds.co.in/eligibility-norms-start-nbfc-business/</link>
		
		<dc:creator><![CDATA[m0dsAdmn]]></dc:creator>
		<pubDate>Fri, 07 Jun 2019 12:49:31 +0000</pubDate>
				<category><![CDATA[NBFC Weekly Digest]]></category>
		<category><![CDATA[NBFC]]></category>
		<category><![CDATA[NBFC Incorporation]]></category>
		<category><![CDATA[nbfc registration]]></category>
		<guid isPermaLink="false">https://muds.co.in/what-are-the-eligibility-norms-to-start-a-nbfc-business/</guid>

					<description><![CDATA[<p>What are the Eligibility Norms to Start a NBFC Business? &#160; Understanding The Term ‘NBFC’ With the Reserve Bank of India (RBI) easing the regulations and norms for Non-Banking Financial Companies (NBFC), there has been a spurt in the registration of such companies. NBFCs are performing exceedingly well and therefore, more and more players are [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://muds.co.in/eligibility-norms-start-nbfc-business/">What are the Eligibility Norms to Start a NBFC Business?</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>What are the Eligibility Norms to Start a NBFC Business?</h1>
<p>&nbsp;</p>
<h2>Understanding The Term ‘NBFC’</h2>
<p>With the Reserve Bank of India (RBI) easing the regulations and norms for Non-Banking Financial Companies (NBFC), there has been a spurt in the registration of such companies. NBFCs are performing exceedingly well and therefore, more and more players are entering this space.</p>
<p>If you are contemplating stepping into this space, then go through the briefs as they may be helpful for you in doing the spadework!</p>
<p><a href="https://www.muds.co.in/nbfc-registration/">NBFC</a> are companies that deliver financial services and banking facilities without adhering to the legal definition of a Bank.</p>
<p>The regulatory body for NBFCs is the RBI and hence, they have to follow the banking regulations laid down by Section 45-IA of the RBI Act of 1934.</p>
<h3>Services NBFCs Can Offer</h3>
<p>The business activities of NBFCs include loans &amp; advances, acquisition of shares or stocks or bonds or debentures or securities that are issued by govt or local authority or other marketable securities of similar nature, like leasing, hire-purchase, insurance business, chit business, etc.</p>
<h3>Services NBFCs Cannot Offer:</h3>
<p>RBI clearly defines the domains which cannot be touched by the NBFCs, and thus agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services, sale or purchase or construction of the immovable property, cannot be dealt with by NBFCs.</p>
<h3>Know About The Eligibility Norms For NBFC Registration!</h3>
<ul>
<li>Company should be registered under the Companies Act, 2013 or Companies Act, 1956</li>
<li>Company should have Minimum Net Owned Fund of INR 2 crore</li>
</ul>
<p>(Net Owned Funds to be calculated on the basis of the last audited balance sheet of the Company)</p>
<h3><a href="https://muds.co.in/nonbanking-financial-company/">Types of NBFCs</a>, Based On The Nature of Activity</h3>
<ul>
<li>Mortgage Guarantee Company</li>
<li><a href="https://muds.co.in/asset-finance-company-registration/">Asset Finance Company</a></li>
<li><a href="https://muds.co.in/micro-finance-company-registration/">Microfinance Company</a></li>
<li>Infrastructure Finance Company</li>
<li>Housing Finance Company</li>
<li>Investment Company</li>
<li>Loan Company</li>
<li>Core Investment Company</li>
</ul>
<h3>Decode The Procedure of NBFC Registration</h3>
<ol>
<li>First formality is forming a company with Minimum Net Owned Fund of INR 2 crore (Equity Share Capital &amp; not Preference Share Capital).</li>
<li>Then the company needs to open a Bank Account and keep the entire sum of INR 2 crores in a bank’s deposit account which should be free from all liens).</li>
<li>The Applicant company is then required to file an online application on the RBI’s website.</li>
<li>After the submission, the applicant will get a reference number that shall enable to facilitate inquiry in the future.</li>
<li>Thereafter, the company needs to submit the hard copies of the required documents to the concerned Regional Office of RBI.</li>
<li>The Regional Office will verify the accuracy of all submitted documents and on satisfaction, it will forward the application for NBFC registration to the central office.</li>
<li>The central office of RBI grants the <a href="https://www.muds.co.in/nbfc-registration/">NBFC registration</a> only after the applicant fulfills all prescribed requirements in section 45-IA, of its act of 1934.</li>
</ol>
<h3>Document Checklist Required To Be Submitted To RBI:</h3>
<p>For <a href="https://www.muds.co.in/nbfc-incorporation/">NBFC Incorporation</a> the following documents will be required:</p>
<ul>
<li>Certificate of Incorporation (Certified Copy Issued by ROC)</li>
<li>Extract of Main Object Clause in MOA (Clearly depicting Financial Business)</li>
<li>Board of Resolution stating the following before getting registration from RBI:
<ul>
<li>Adherence to the “Fair Practices Code (As per RBI Guidelines)</li>
<li>Non-carrying out any NBFC activity</li>
<li>Non-carrying out of acceptance of any public deposit</li>
</ul>
</li>
<li>Audited Balance Sheet &amp; Profit &amp; Loss account along with directors and auditors report (for entire period of company’s existence or last 3 years, whichever is less)</li>
<li>Director’s Highest Educational &amp; Professional Qualification (Copy of certificate)</li>
<li>Director’s experience in the Financial Services Sector, including Banking Sector (Copy of certificate)</li>
<li>Details of deposits &amp; loans balances as on the date of application &amp; conduct of account (Bankers report)</li>
</ul>
<blockquote><p>&#8220;NBFCs have become the driving force of the Indian economy, their USP being versatility and flexibility which helps them to penetrate all corners of the country!&#8221;<br />
-Shweta Gupta, Founder, and CEO, <a href="/">MUDS</a></p></blockquote>
<p>The post <a rel="nofollow" href="https://muds.co.in/eligibility-norms-start-nbfc-business/">What are the Eligibility Norms to Start a NBFC Business?</a> appeared first on <a rel="nofollow" href="https://muds.co.in">MUDS</a>.</p>
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