West Bengal - Apply for Money Lender (Loner) Licence

Procedure

Apply In-Person

To apply for a money lender license, the eligible applicant shall reach the respective Sub Registrar Office “SRO” within whose purview the applicant plans to operate the business.
Link for contact details : link1 in the given page, please click on the “Contacts” menu and click on the “Registering Officers” option for a new page.
In the given page, please select the district from the prompt drop down lit and click on the “Display” option to get contact details.
Please use the contact details and find the right office to apply. 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.
The applicant will also get an acknowledgement in their phone number provided on the application.
The applicants are advised to follow the SMS notification carefully.
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

Required Documents

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 & Contacts

Municipal Service Commission,
149, acharya Jagadish Chandra Bose road
Kolkata - 700 014
enquiry no: 033 2265 7920
Contact: link

Eligibility

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.

Fees

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

Validity

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

Documents to Use

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

Sample Documents

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 Time

7 to 15 days

Instructions

Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
Applicants must provide genuine information while applying for this procedure

Required Information

Full Name
Age & Date of Birth
Residential Address
Contact Number & Email
Aadhaar Card/PAN Card
Name of the Money Lending Business
Business Address
Type of Business Entity (Sole Proprietor/Partnership/Private Limited)
Details of Partners/Directors (if applicable)
GST Registration (if applicable)
Capital Investment Details
Source of Funds
Bank Account Details

Need for the Document

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 help

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

External Links

Place some external links which might help.

Others

More information which might help people.