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R S Thakur (.)     13 April 2011

Money Lending Licence @ Mumbai, Maharashtra

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.


 7 Replies

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     13 April 2011

not easy job dear.

in every state fresh registration needed.

R S Thakur (.)     13 April 2011

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 (ha21@rediffmail.com Mumbai : 9820174108)     13 April 2011

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

harpreetdhanvi (Legal Officer)     02 January 2012

NBF'c is also an option

Vishal   20 December 2015

Can individual apply for it?

kartik   22 February 2017

yes individual can apply it but as a propriter better take money lending license because for registration of nbfc there should be a minimum net paid capital of the company must be 100 cr. as per rbi guidelines

Jignesh Thakkar   25 August 2017

Hello Sir 

where should I apply for Money Lenidng Licence ?

I m from Bhavnagar - Gujarat , 

so should I apply local registrar or local authority or RBI ?

Pls guide and help me out

Jigs Thakkar 

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