Maharashtra - Apply for Money Lender (Loner) Licence

ProcedureEdit

Those who wanted to start a money lending business should have to apply for a money lender licence to carry on business of money lending.
Apply In-Person

To apply, the eligible person has to apply with required documents to the Registrar General of Money-Lending designated to process the request.
Link for contact details: link
Please go to the respective office. Consult with the respective authority about the updated information to acquire the license.
Get the form for this license or write on a plain paper as advised.
Submit the completed application along with required documents to the receiving authority.
Authorities after checking the application and documents will make entries at the respective register and provide applicant a record number for reference.
Keep it safe for future reference.
This application will be processed further.
If the applicant’s details are matching the norms and the place for which license sought is also approved, applicant gets intimation for the rest of the process.
Please follow the department’s guidelines in getting the sanction and obtain license.

Note:

All applicant has to follow the respective state money lenders act rules and regulations.
The Interest rate and tenure for the loan should be fixed as per state government norms.
Link for Act :link

Apply Online

To apply online, the applicant shall follow the given aaple sarkar link: Link and click on the "New User? Register Here" tab.
From the given options, select any one mode to create User ID and Password.
Now verify UID or Create your own user profile using OTP verification on your mobile.
A new page will open up where the applicant has to fill up all the personal detail(Name, D.O.B, Age, Gender, etc) in the portal.
Now enter the address as per the document.
After that provide mobile number and OTP, PAN No., UID No., and confirm password.
Now upload a photograph between 5kB to 20kB in JPEG format.
Now choose from the drop now menu any one of the Proof of Identity.
Finally provide a Proof of Address by clicking from the menu on screen.
Click on the declaration box and then click the "Register" tab.
After login, click Link and then click on “Apply”.
The applicant will get an application displayed.
Fill up the application form correctly and pay the requisite fee.
On completion, the applicant will be notified.
You can check the status of the application in the portal by signing in with User ID and password.

Apply through Mobile APP:

To apply via app, the applicant shall download the app from the given link: Link
Select the preferred language
A list of options will be provided from which the applicant must choose the concerned department
Now a list of services will be displayed from which the applicant must select the required service
The applicant must also provide the nature of service verification and click on “Apply” to proceed to verification
Once verified, the applicant will be informed about the further process.

Apply Through Centres:

To apply for Money Lender (Loner) Licence through centres, the applicant has to visit the respective “CSC” centre/sewa kendra. Please tap on the following link to locate the centre according to the respective district: link.
Make sure to have the documents that are listed under the “Required Documents” section of this page.
An application form can be obtained through the kiosk operator upon visiting the centre.
The applicant has to fill in all the necessary information in the application form.
Submit the application form with “Required Documents” to the office. It is advised to take the documents in original to the kiosk for scanning purposes.
The operator will process the application online.
On successful submission, the applicant will receive an application number as acknowledgement. The applicant will also get a transaction number as a text message on their registered mobile number.
Pay the fee as given in the “Fees” section of this page and collect the receipt.
An ”SMS” triggered update on application status will be sent to the applicant’s mobile. Please keep track of the notification.
Upon the satisfaction of the authorities, the permission will be granted according to the application.

Required DocumentsEdit

Application form.
Identity proof.
Ration Card
Bank account details
Address of the shop or business (proof of address)
Fees paid details (Challan and details)
Education details
Residential Proof: Residential Certificate issued by Local administration office/ Aadhaar card / Passport / Driving License / Ration Card / Govt. Id card / Defence ID Card / PAN Card.
Age proof (birth certificate / school certificate)
Applicant passport size photograph.
Aadhaar card
Affix stamp as advised by authorities if required.

Note:

All original and copy of original with self attestation as advised by respective authorities to be submitted as per requirement.
Apart from the above documents authorities may ask to submit additional information or documents. Please provide them for processing.

Office Locations & ContactsEdit

Commissioner for Cooperation
Registrar of Cooperative Societies,
2nd Floor, New Central Building,
Ambedkar Wellesly Rd,
Pune, Maharashtra 411001.
Tel .: 020 2612 2846
Contact link: link

EligibilityEdit

Age : 18 years and above (If minors are applying then apply through a guardian)
Citizen of India
Applicant should not knowingly participated in or connived at any fraud or dishonesty in the conduct of or in connexion with the business of money-lending
The applicant should not have got his/her licence cancelled within last six months or the prescribed period before the date of current application.

FeesEdit

As authorities quote.
Charges for affixing stamp may be required.

ValidityEdit

Valid for 5 year or as per the period mentioned
Usually the license needs to be renewed annually.

Documents to UseEdit

Please attach documents that can be used by people. e.g. links

Sample DocumentsEdit

FORM OF APPLICATION FOR THE GRANT OF MONEY LENDERS LICENCE:

Name of the applicant :
Address in full(any subsequent change should be notified) :
Father’s Name :
If the applicant is a native of Indian State :
(i) Full address in such Indian State;and

(ii) Details of immovable properties owned

insuch states by the applicant, with

their estimated value.
Address of the shop or place of business in :
respect of which the licence is applied for

(Any subsequent change should be notified)
If the applicant has more than one shop or :
place of business, the address for each such

shop or place of business
Has the applicant applied for a separate :
licence in respect of each shop or place of

business mentioned against ithem 6 and if

so with what result?
Date of commencement of business :
Financial year for which the licence is applied for :
The amount of money proposed to be lent during :
the financial year.
Has the applicant paid the prescribed fee :
for the licence (The chalan receipt or other

evidence of payment of fee should be enclosed)
Whether the declaration in Form AAA has :
been appended.

Signature of the applicant.

I declare that the particulars stated above are correct to the best of my knowledge and belief.

Signature of applicant.

Processing TimeEdit

7 to 15 days

InstructionsEdit

Please provide instructions on obtaining the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required InformationEdit

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or County of Birth.

Need for the DocumentEdit

Any individual or a firm indulges in money lending business has to follow the interest rate advised, tenure for the loan etc.
This licensing process gives the applicant all vital information to be followed.

Information which might helpEdit

Avoid using fabricated documents to avail this license as it is punishable.
If the rules are not followed, punishment is inevitable.

External LinksEdit

Place some external links which might help.

OthersEdit

More information which might help people.