private banking

Querist : Anonymous (Querist) 26 November 2009 This query is : Resolved
i wanted to know what government stipulations govern private banking .?
also how NBFCs are different from private banks and is private banking done by them .if yes , r there any advantages .
what all is covered under private banking .

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adv. rajeev ( rajoo ) (Expert) 26 November 2009
If you want to start private banking it requires permission from the RBI, you have to follow the rules and regulations of the RBI.
U can start money lending business by obtaning the license from Asst., Registrar of Co-Op., Societies( in karnataka it is procedure)

Querist : Anonymous (Querist) 02 December 2009
thank you

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