Company on finance
This query is : Resolved
Swastik Upadhyay
(Querist)
24 July 2012
I want to opn a Finance Company in which I will provide loan to the people at lower rate of interest thn banks? I did some research and found out tht NBFC is requd fr those kind of company and for registration of NBFC 2 crore is needed, which I dont have now.
So is there any other way of establishing such company?
So is there any other way of establishing such company?
Ajay Mishra
(Expert)
24 July 2012
Hi
For doing financing business, it is mandatory to take RBI approval which includes minimum net worth of Rs. 2 crore at the time of registration of company. You have no other option.
For doing financing business, it is mandatory to take RBI approval which includes minimum net worth of Rs. 2 crore at the time of registration of company. You have no other option.
Message likes :
1 times
Swastik Upadhyay
(Querist)
24 July 2012
is ther any other way of having the company with the same motive and without nbfc??
Ajay Mishra
(Expert)
24 July 2012
I don't think, any other option available to register finance company without RBI approval.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives residing in usa
- Form 144 TDS Return Validation Error – Mandatory Fields
- TDS- 2026-27 Q1 Correction
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
