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Micro Finance Company is a non-deposit taking Non-Banking Financial Companies (NBFC) that offers micro or small finance to low income groups and families with less income living in rural and urban areas. A Micro Finance Company or Institutions extends small funding support at competitive interest rate with flexible repayment options. The Micro Finance Institutions (MFIs) mainly cater to the individuals/organizations those are unable to borrow money from mainstream banks, NBFC or other financial institutions.
(1) Better Repayment Rate
(2) Reach to rural areas
(3) No minimum capital requirments
(4) Tax benefit
(5) Interest rate charged
(6) Separate legal entity
(7) Credibility
(8) Self sufficiency
(9) Funding
(1) Prepare DSC and file name approval
(2) MOA and AOA file submission
(3) PAN, TAN and bank account.
(1) What is microfinance company registration?
(2) What are the registration fees?
(3) What are the basic documents required to register microfinance companies?
(3) What do you by qualifying assets?
