We wanted to form partnership firm which can have nature of business as mortgage and small finance. In this business we will be lending money to Autorickshaw and Taxi against mortgage. We have got this firm registered and got the PAN card for it, what else do we need as per law? I searched on net and seems like the firm which we have regsitered doesn't come under NBFC as we will not have more than 5 lakh worth of transaction in an year.
I just wanted to enquire about the laws and came to know we need money lender licence, was not sure if this actually applies to us.
Could you please guide me.
Thanks in advance,