Remember | Register | Forgot Password?
Bookmark This Page   RSS Feeds  Follow On Twitter


Search for Lawyers          

Please Wait ..

Discussion > Business Law > Others > Money Lending Licence @ Mumbai, Maharashtra   Unanswered Threads Post New Topic

Pages : 1

There are 4 Replies to this message

R S Thakur

[ Scorecard : 26]
Posted On 13 April 2011 at 12:12 Report Abuse

Dear Ld.Seniors and friends

I want to start a Pvt Ltd Company for conducting a business of Micro Finance, I wnat to know what is the procedure to obtain a Money Lending Licence and who has the authority to Grant such licence, for Maharashtra and Gujrat.

Q.1 Authority that can grant a Money Lending Licence.?

Q.2 Documents required for the said licence.?

Q.3 Is such licence is valid in multiple states.?

Pls reply as soon as Posible,

Thanking you all in anticipation.


[ Scorecard : 15875]
Posted On 13 April 2011 at 13:23 Report Abuse

not easy job dear.

in every state fresh registration needed.

R S Thakur

[ Scorecard : 26]
Posted On 13 April 2011 at 13:42 Report Abuse

I completely agree to you sir, that it is not an easy job, but sir these days nothing is easy, I want to still try it.:-)

Hemant Agarwal Mumbai : 9820174108
[ Scorecard : 3198]
Posted On 13 April 2011 at 17:38 Report Abuse

1.  A registered Pvt. Ltd. company having proper MOA &  AOA pertaining to business of borrowing and lending, should be compulsorily be registered with Registrar of Companies.

2.  A Pvt. Ltd. company desirous  of doing finance business, must mandatorily take Licence (Certificate) from Reserve Bank of India u/s 45 of the RBI Act.  This is valid and applicable for whole of India.

3. However, apart from above, a further  "money lending licence"  is to be obtained from  "each & every"  State, where money lending business is proposed to be conducted.  In Maharashtra, the dept of Cooperatives is entrusted for granting of such  "money lending licence" .

4.  Mandatory documents like MOA, AOA, Company Incorporation certificate, PAN card, S&E license and others are required to obtain licence & conduct business of finance.

Keep Smiling .... Hemant Agarwal


Legal Officer
[ Scorecard : 117]
Posted On 02 January 2012 at 16:02 Report Abuse

NBF'c is also an option

Related Files

Previous Thread
Next Thread

Related Threads

Post your reply for Money Lending Licence @ Mumbai, Maharashtra

Your are not logged in . Please login to post replies

Click here to login

Not a member yet ?? Click here to signup



  • This is a public forum. Avoid posting content which you do not wish to disclose in public.
  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.

Subscribe to the latest topics :

Forum Home | Forum Portal | Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads - Month | Unreplied Topics | Forum Stats

web analytics