Can trust lend money?

Querist : Anonymous (Querist) 17 May 2010 This query is : Resolved
We are running a trust which is registered under Indian Trust Act. Whether we can lend money to our beneficiaries and accept deposits from them?

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A V Vishal (Expert) 17 May 2010
No you are barred from lending or accepting deposits further a company having a valid license from RBI(NBFC) can carry out the activities described by you.

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