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Loan abpve 20,000/- in cash

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 September 2017 Can a person doing vehicle finance business lend above 20,000/- to its customer on basis of hire purchase agreement in cash?
Also many jwellery businessman lend above 20,000/- by taking jwellery from customers in their possession. Is it allowed?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 September 2017 Lending above 20000 in cash including jewelry business not allowed.
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RAJA P M

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RAJA P M (Expert)
26 September 2017 In my view., The 20k limit reduced 10k...
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
27 September 2017 You are not allowed to lend above 10000/- in cash.....
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