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Microfinance Company Registration

Micro Finance<br>Company<br>Registration<br>Want to earn a steady interest<br>income and help needy the<br>same time.Then this is for you.

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Microfinance Company Registration

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  1. Micro Finance Company Registration Want to earn a steady interest income and help needy the same time .Then this is for you.

  2. There are 2 types of Micro Finance Companies which are popular in India: 1) Non Banking Finance Company- Micro Finance Institutions (popularly known as NBFC-MFI): This type of Micro Finance Company has to get itself registered with RBI separately. It also has to maintain a minimum Net Owned Funds (NOF) of Rs. 2 Crores to Rs. 5 Crores, depending on states to states. 2) Section 8 Micro Finance Company: This type of Micro FInance Company is not required to register itself with the RBI and thus is not required to maintain a minimum NOF of Rs. 2 Crores.

  3. Purpose of Micro Finance Company Micro Finance company Provides funds to low income people people who reside in semi urban as well as rural area get funds

  4. Benefits of Microfinance Company There is no collateral/mortgage money required for borrowing of funds It also provides an opportunity to earn income Facilitates rural development It helps to generate employment

  5. PAN Card or Passport (Foreign Nationals & NRIs) Copy of Aadhaar Card Passport-sized Photograh Voter’s ID/Passport/Driver’s License 2 months latest bank statement/ telephone or mobile bill/ electricity or gas bill Notarized Rent Agreement in English No-objection certificate (NOC) from the property owner Sale Deed/ Property Deed in English in case of owned property Documents Required Micro-Finance Registration

  6. Micro-Finance Registration Procedure Choosing Unique Name for your Section 8 Micro Finance Company Preprations of Digital Signature (DSC) Filing Application for Director's DIN Allotment of COI, PAN & TAN Filing e-forms with MCA Preparing Forms and Documents

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