Can ngo take loan

Swastik Upadhyay (Querist) 02 July 2012 This query is : Resolved
I want to set up an NGO. Can I put in my memorandum of association tht my NGO can take loan frm any Centralizes bank??

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A V Vishal (Expert) 02 July 2012
Yes, if the memorandum/bye-laws authorises then the NGO can take loan.

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