LC means any company which is a financial institution carrying on as its principal business the providing of finance whether by making loans or advances or otherwise for any activity other than its own but does not include an Asset Finance Company.
Loan Company offers different types of Loans and treated as non-deposit taking NBFC like Secured Loan, Unsecured Loan, Home Loan, Commercial Loan, and all other types of Loans prescribed under RBI Act and regulations as per the Individual Needs.
Pre requirement and Documents for the RBI License
- The company should be registered under the Companies Act, 2013 with a NOW of 2 Crore.
- In the case of Foreign Company NOW should be 5 Crore.
- Certified MOA & AOA of the Company along with COI.
- Directors profile along with CIBIL Score.
- Board Resolution regarding Authorization and fair code of practice.
- Audited Accounts of the Company
