Re: Micro Financing by Registered societies or trusts
- It is true that they need not take separate license. For that matter there is no regulatory authority relating to microfinance till now (Bill is pending). The trust deed/bye-laws should allow this activity. They cannot borrow from public for this activity. They accept donations for micro financing if the lending is to the beneficiaries/members.
--- In email@example.com, "tusharcosmic" <tusharcosmic@...> wrote:
> As I have studied registered societies and trusts can do micro financing legally and they do not need to take any separate money lenders license also.
> Is it right?
> Can these institutions borrow money from public for micro -financing?
> Can they accept donations for micro financing,Can they use donation money for micro financing?
> From where they will get the funds to do micro-financing ?
> Please help,thanks in advance.