Money lending licence issuance in mumbai

Asif Ansari (Querist) 06 February 2017 This query is : Resolved
Can an individual apply for money lending licence in mumbai/Maharastra?
If yes! What's the procedures, documents & formalities?
What's the processing fees, it's one time or yearly renewals?
What's the time frame required to get money lending license in mumbai?

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Asif Ansari (Querist) 06 February 2017
This is first time I am trying to apply for money lending licence

Guest (Expert) 06 February 2017
For your Business there is No Doubt you would afford the Professional Fee.Better Consult and take the Guidance of a Local good Advocate who would be helpful to you in the Long Run also.

Ms.Usha Kapoor (Expert) 07 February 2017
Agreed with Raj Kumar ALIAS NARASIMHA.

Guest (Expert) 07 February 2017
Thanks to Ms.Usha Kapoor

R.K Nanda (Expert) 07 February 2017
contact local mumbai lawyer.

P. Venu (Expert) 07 February 2017
The matter requires professional consultation.

Dr J C Vashista (Expert) 10 February 2017
Consult a prudent local lawyer in Mumbai.

However, Section 3 of Punjab Money Lending Act, 1938 empowers Deputy Commissioners to issue/grant money lending licence in the states of Punjab, Haryana, Himachal and Delhi

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