Money lending license

Querist : Anonymous (Querist) 23 November 2022 This query is : Resolved
I am interested to start money lending business in west Bengal, please guide me how do I get a license of money lending.

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kavksatyanarayana (Expert) 23 November 2022
You shall submit an application to the Sub Registrar/Registrar of your jurisdiction. There is a proforma, ask them and fill in it. In some places, the Tahsildar is competent.

Dr J C Vashista (Expert) 24 November 2022
Local laws apply for grant of money lending licence according to Entry 30 of List II (i.e., the State List) of the Seventh Schedule to the Constitution of India 1949. The State Legislature has the exclusive authority to establish legislation governing money-lending businesses .