(Querist) 02 June 2010
This query is : Resolved
one of my friend doing gold loan business. We want to know about registration of our firm. we are giving Loan against gold. Suppose gold value is 1,00,000/- Loan eligible is 75,000/- along with 1 % interest every month.
adv. rajeev ( rajoo )
(Expert) 03 June 2010
You will have to register your firm with the Asst., Dist., Registrar , who has got authority to issue the money lending license and you have to take the permission from him to lend the money against gold.