Loan facilitator requirements

Naveen Alle (Querist) 26 February 2014 This query is : Resolved
We are in a process of starting a business of crowdfunding i.e. facilitating lending and borrowing. We have built a platform where lenders and borrowers will come together for mutual financial benefit.
Can someone please advice me whether any licence is required apart from registering the company. Also, are the any legal issues to start such venture in India?

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ajay sethi (Expert) 26 February 2014
if your are also going to lend finance you will need money lender license .you will need license under shop and establishment act of state .

Rajendra K Goyal (Expert) 26 February 2014
If you are to get commission on your services you will have to get service tax license and TAN no.

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