Money Circulation
Abdur Razique
(Querist) 19 August 2017
This query is : Resolved
Hi I am a software developer currently working in US.
I am planning to start a unique business in my home country India.
I only wanted to know, suppose if all of my clients are happy and no one raise any complain for lifetime, and if I also pay a GST legally then can I run a Money Circulation Business (Might be known as mlm business without any product) legally in India.? And the important thing if the joining fee is as low as Rs 50.
In future I will also add
1. An e-commerce marketplace where all types of product will be available as on eBay now.
2. P2P money lending according to RBI guidelines
Please let me know the procedure...
Regards
Rajendra K Goyal
(Expert) 19 August 2017
For collecting deposit and lending, banking license from RBI is required.
As the process is commercial, better have consultation from expert consultant in the field.
Rajendra K Goyal
(Expert) 19 August 2017
Repeated query:
http://www.lawyersclubindia.com/experts/Money-Circulation-652001.asp
Rajendra K Goyal
(Expert) 19 August 2017
Repeated also at:
http://www.lawyersclubindia.com/experts/Money-Circulation-651986.asp
Kumar Doab
(Expert) 19 August 2017
Why to repeat....................?
Dr J C Vashista
(Expert) 22 August 2017
It is stupidity to repeat same query.
