Querist :
Anonymous
(Querist) 17 May 2010
This query is : Resolved
We are running a trust which is registered under Indian Trust Act. Whether we can lend money to our beneficiaries and accept deposits from them?
A V Vishal
(Expert) 17 May 2010
No you are barred from lending or accepting deposits further a company having a valid license from RBI(NBFC) can carry out the activities described by you.
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