Regarding finance

Surendhar (Querist) 19 June 2017 This query is : Resolved
I am planing to start private finance business. I am planing to start the business with the capital of 10 lakhs. What should be the government interest rate regarding private finance. What are documents required to register and how to register the business

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Surendhar (Querist) 19 June 2017
Reply for my doubt

P. Venu (Expert) 20 June 2017
Local laws apply.

Rajendra K Goyal (Expert) 20 June 2017
Money lender license is required for money lending business.

Dr J C Vashista (Expert) 20 June 2017
1. In order to solve examination questions raised for "reply for my doubt" no answer sheet has been provided.

2.You are planning to start a finance business with a capital investment of Rs. 10 lakh but unable to employ a lawyer and require "free legal" advise from experts.

No reply for commercial inquiries.

M V Gupta (Expert) 22 June 2017
I agree with the opinion of Shri Goyal. The proposed business will fall under the Money lending Act of your state. you will require license for the same. Please note that u cannot charge exorbitant interest. you will be governed by the Usurious loans act.

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