Money Lending Licence @ Mumbai, Maharashtra

not easy job dear.

in every state fresh registration needed.

I completely agree to you sir, that it is not an easy job, but sir these days nothing is easy, I want to still try it.:-)

1.  A registered Pvt. Ltd. company having proper MOA &  AOA pertaining to business of borrowing and lending, should be compulsorily be registered with Registrar of Companies.

2.  A Pvt. Ltd. company desirous  of doing finance business, must mandatorily take Licence (Certificate) from Reserve Bank of India u/s 45 of the RBI Act.  This is valid and applicable for whole of India.

3. However, apart from above, a further  "money lending licence"  is to be obtained from  "each & every"  State, where money lending business is proposed to be conducted.  In Maharashtra, the dept of Cooperatives is entrusted for granting of such  "money lending licence" .

4.  Mandatory documents like MOA, AOA, Company Incorporation certificate, PAN card, S&E license and others are required to obtain licence & conduct business of finance.

Keep Smiling .... Hemant Agarwal
 

NBF'c is also an option

yes individual can apply it but as a propriter better take money lending license because for registration of nbfc there should be a minimum net paid capital of the company must be 100 cr. as per rbi guidelines

Hello Sir 

where should I apply for Money Lenidng Licence ?

I m from Bhavnagar - Gujarat , 

so should I apply local registrar or local authority or RBI ?

Pls guide and help me out

Jigs Thakkar