Net Owned Funds (NOF) Net owned Fund consists of paid-up equity capital, free reserves, balance in share premium account and capital reserves representing surplus arising out of sale proceeds of assets but excludes reserves created by revaluation of assets. From the aggregate of items, accumulated loss balance and the book value of intangible assets should be deducted, if any, to arrive at owned funds. Investments in shares of other NBFCs and in shares, debentures of subsidiaries and group companies in excess of ten percent of the owned fund mentioned above will be deducted to arrive at the Net Owned Fund. The NOF should be computed on the basis of last audited Balance Sheet and any capital raised after the Balance Sheet date should not be accounted for while computing NOF
Difference between NBFC & BankUsually NBFC operations are similar to that of a Bank with following differences between a Bank and a NBFC, however there are some differences between them: ➲ NBFC may provide Banking services to People without holding a Bank license, ➲ NBFC cannot accept Demand Deposits. ➲ NBFC is not a part of payment and settlement system. ➲ NBFC cannot issue cheques drawn on itself. ➲ NBFC cannot provide with Deposit Insurance and Credit Guarantee to the depositor while Banks provide these facilities as per regulation. ➲ An NBFC is not required to maintain Reserve Ratios (CRR, SLR etc.) ➲ An NBFC cannot indulge Primarily in Agricultural, Industrial Activity, Sale-Purchase, Construction of Immovable Property ➲ Foreign Investment allowed up to 100 % ➲ An NBFC companies working in Financial Body and Money handling Benefits of an NBFC➲ NBFCs recently gained a lot of popularity in between institutional investors, because NBFCs provides semi-rural and rural India with the access to credit, as the traditional banks have been traditionally poor in reaching them. Some advantages are as follows: ➲ Provides loans and credit facilities- Growing number of businesses and startups are willing to take a business loan from NBFCs other than Banks due to quicker processing, competitive interest rates, and availability of loans for those with poor credit history. ➲ A hard copy of the above-mentioned application along with demanded documents and enclosures to the concerned Regional Office of the RBI. ➲ Supporting investments in property- Investing in property with NBFCs is advantageous due to flexible rates, easy repayment, acceptable property collaterals with quick and easy processing ➲ Trading money market instruments- Interest rates on money market instruments such as commercial paper id soft with NBFCs, though the base rate of banks stayed unchanged. ➲ Funding private education- Flexible rates and easy return make it convenient. ➲ Facilitates retirement planning ➲ Advise companies in merger and acquisition ➲ Wealth management such as managing portfolios of stocks and shares ➲ Prepare feasibility, market or industry studies for companies
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India is at a stage where the Internet is becoming a new standard. Consequently, many telecom firms are emerging because of the prospects that can be found. Therefore the government is more than eager to give ISP license (Internet Service Provider) to new and existing telecommunications companies. For all the telecom-related facilities, there is only one license, called the Unified License. The holders can apply for ISP licenses in different areas under the Unified License. Therefore, one must obtain a single license in order to gain an ISP registration in India.
Although a company can hold only one Unified License, under this single license it is also possible for the same company to apply for various areas of ISP regions. When it comes to validity, though, the entire ISP region under the same license will only be valid for the same time. This means the ISP registration is valid in various areas as long as the Unified license is valid. The Government of India has taken the initiative for telecom-related services in India and has developed a license known as a Unified License. Unified License Holder is eligible to apply for ISP licenses for various areas. One has to obtain a Unified License to provide ISP services. The requirement to obtain ISP authorization under the Unified Lice was then cleared. Types of ISP license: Class A license: this category of license area of the entire nation, means license holder can provide service in the entire nation Class B license: this category license holder has a coverage area of telecom circle or metropolitan area Class C license: This category license means a secondary switching area. Eligibility for ISP license: A company registered under Company Act 1956/2013 is qualified in India to obtain an ISP license. For company registration, an application can be filed with the company registrar by a consultant in the specified format. Procedure and DocumentationSTEP 1 Make registration if you don’t have a registration on saralsanchar website STEP2 After making registration applicant will get the login credentials STEP 3 Do the login and Apply for UL (Unified License) license STEP 4 Fill the entire form step by step and upload the required documents as well. All the attached documents should be digitally signed & submit the form STEP 5 make the payment for department processing fees of INR 15000 (non-refundable) STEP 6 after submitting department may ask for clarification in within 60 days from the date of submission of the application or else it will issue LOI (letter of intent) STEP 7 once LOI get generated applicant needs to uploads the signed LOI and BG (Bank Guarantee) STEP 8 At last after all upload the department will issue the license in the name of the applicant Documents required a. Certificate of Incorporation b. Directors and promoters detail c. Bank guaranteed d. Memorandum of association e. Article of association It does NOT matter the size of your organization: 1 person or 1 million. It is applicable to small business units also.
It doesn't matter in the sector you are in (service or production)-it can be a restaurant, agency, production firm, government department, etc. It's NOT Product's Standard. It does not determine the quality of the product. It is a norm-based on procedures: you use it to monitor your procedures, and then the final product will achieve the desired results. ISO 9001 refers to entities, departments, training, facilities and equipment, with open doors for development in these fields. QMS Certification Services recognizes seven organizations which need ISO 9001 Certification in order to remain competitive: a. Construction Company b. Engineering Service providers c. Administration of tech services d. Production and manufacturing e. Hotels and logging f. Health Treatment If your company is operating in either of these projects, and you don't have the certification, it may be your downfall. Should not seek to give your competitors a preferential place by gaining the ISO Certification. Benefits of ISO 9001:2015a. Become more cost-effective b. Credibility and competitiveness are enhanced c. Lower costs and shorter cycle times by using the resources effectively d. Improved customer satisfaction and customer loyalty leading to repeated business e. Increased revenue and market share achieved by the flexible and quick response to market opportunities f. Integration and coordination of internal systems that will boost efficiency and outcomes g. Coherence in the distribution of the product or service h. Improved contact, preparation, and management processes Procedure and DocumentationStep 1 Initial Assessment At this stage, initial assessment determines if the mandatory requirement of the standards are being met and if the management system is capable of proceeding to the next step STEP 2 Assessment Next step is to assess the organization and determine the effectiveness of the system, and seeks to confirm that the management system implemented and operational STEP 3 Corrective actions At this point process, we review any corrective actions taken to address findings raised at step 1 & 2 certification may be recommended. STEP 4 Certification review and decision The organization’s files are reviewed by an independent and impartial panel and the certification decision is made. |
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