info@thelegalbank.com 911-911-2929 / 91160 - 98980
The Legal Court logo of lawyer advocate

Micro Finance Company Registration in Jaipur

Micro Finance Institutions(MFI’s) can be defined as a microfinance institution is an organization that offers financial services to low-income populations. Almost all give loans to their members, and many offer insurance, deposit, and other services. A great scale of organizations is regarded as microfinance institutes. They are those that offer credits and other financial services to the representatives of poor strata of the population.

Documents Required for Micro Finance Company Registration in Jaipur

The documents required for Micro Finance Company Registration in Jaipur from the director and shareholders are:

  1. Pan Card/Aadhar Card

  2. Voter ID/Passport / License

  3. Two passport photo

  4. Bank Statement- latest 3 month(Bank Pdf)

  5. Email, Mobile No, Profession, Qualification, and Duration of stay at present address

Documents required for Micro Finance Company Registration in Jaipur of the proposed registered address are as follows:

  • Electricity bill/Other Utility Bill of the proposed registered address

  • NOC or rent agreement from the owner of the premises

  • Even if the director is the owner of the property NOC is needed from him

  • Bank Statement- latest 3 month(Bank Pdf)

  • Email, Mobile No, Profession, Qualification, and Duration of stay at present address

Note:- All document must be scan from the scanner with good quality

Time required for Micro Finance Company Registration in Jaipur

Micro Finance Company registration in Jaipur process can be completed in around 120 working days after all document received completely from the customer side; as follows:-

  • Preparation of documents – 2 days

  • DSC Application – 1 day

  • Name Approval through RUN – 1-2 days

  • Filing of form – 2 days

  • Approval – 8-10 days

  • RBI documents preparation -15-20

  • RBI approval -60-90 days

 

Procedure for Micro Finance Company Registration in Jaipur

  • The first step is to form a new Public Limited Company under the Companies Act.

  • NOF should be Rs. 500 Lac After the incorporation of a new Company in the form of equity share capital. The Capital to be raised after incorporation of a company here should be Equity Share Capital and not Preference Share Capital.

  • The amount which is received post-incorporation of the company shall be deposited in a bank account as Fixed Deposit and it must be free from all aliens.

  • Application to RBI for Business Operations.

  • RBI will conduct due diligence and will issue a certificate of commencement of business.

Best Company Consultant for Micro Finance Company registration in Jaipur.  call 0141-4455144 for best company registration offer.