Company in the field of gold loans

VANGARI GANGA RAJAM (Querist) 15 October 2011 This query is : Resolved
my client wants to start a firm or company with a object to provide gold loans to general public. my query is whether a registered partnership firm can give gold loans to the general public ? Whether it is compulsory to incorporate a company to give gold loans and further whether any special permissions or licences to take to give the gold loans ? please help me in this regard

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Shonee Kapoor (Expert) 15 October 2011
He has to register a NBFC (Non Banking Finance Company) for this matter.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Raj Kumar Makkad (Expert) 15 October 2011
In addition to reply of Shonee, Your client shall also have to seek permission from RBI as he is going to engage in the job of money lender.

prabhakar singh (Expert) 16 October 2011
yes the joint reply now needs no addition.

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