Money lenders licence

Anup Singh (Querist) 21 July 2015 This query is : Resolved
Hello All,
I am planning to start a small money lending business like personal loan and two wheeler loan business. what are the points to be considered and what are the licence requirements for the same in Jharkhand state???

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Dr J C Vashista (Expert) 21 July 2015
You should seek the professional services of a lawyer since number of issues will be there which you shall be confronting in the business.
Consult a local lawyer, obtain licence for the business.
Best of luck.

Rajendra K Goyal (Expert) 21 July 2015
Doing Banking business is governed by the RBI provisions. However rules for credit and thrift societies are a bit liberal.

You should consult local consultant for guidance.

T. Kalaiselvan, Advocate (Expert) 23 July 2015
You Have repeated the same question in the forum section too where other lawyers have given a detailed reply, you may visit that thread for knowing the replies therein.

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