Andaman and Nicobar - Renew Money Lending License

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Procedure

Apply In-Person:

1. To renew the money lending licence, a valid moneylender shall apply with the authority (tahsildar / district administration / concerned village Panchayat / Block Panchayat / municipal authority designated) by whom the license was granted or last renewed.
2. Link for contact details link Select “Districts” menu to choose the districts from the drop down-list to reach the respective portal. In the given portal page, please select “ABOUT DISTRICT > Who’s Who” OR “ABOUT DISTRICT > ADMINISTRATIVE SETUP > Wards and Panchayats” OR “DIRECTORY > PUBLICUTILITIES > Municipalities” as appropriate for the contact details.
3. Please go to the respective office. Get advice on the renewal process. Please collect the renewal application form or write on a plain paper as advised.
4. Please complete the application form. Attach the required documents as per our “Required Documents” section of this page along with the applicable renewal fees (treasury receipt / as per the advised format) if any, to the receiving authority.
5. After receiving the application, authorities will check the submitted application and document set. If all are in place, the application will be accepted.
6. Authorities will make entries about this application in the manual record or electronically using the computer and provide applicant a record number for reference.
7. Concerned authority will process the application to check the authenticity of the submitted details. The applicant will be instructed to produce his/her accounts for inspection. The authority, then assess the inspection fee.
8. The applicant shall pay the fees as instructed and provide the proof of paying the fees.
9. The inspection will be conducted. If required, the authority will visit the premises to do required due diligence.
10. Once the inspection is complete and the outcome of the inspection looks satisfactory, the licence will be renewed.
11. The status, viz. renewal or rejection if any will be conveyed to the applicant through an SMS or through phone call.
12. Please follow the department’s guidelines to get the renewed licence as per applicable norms.

Note:

• All applicant has to follow the respective state moneylenders act rules and regulations.
• The Interest rate and tenure for the loan should be fixed as per state government norms.
• When an application for renewal of a license is received by the respective licensing authority within the prescribed period, the registration shall, until the application is finally disposed of, be deemed to be valid.

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Required Documents

• Application form
• Valid money lending license
• Identity proof
• Ration Card
• Bank account details
• Address of the shop or business (proof of address)
• Fees paid details (Challan or other relevant fee paid details as advised)
• Residential Proof: Residential Certificate issued by Local administration office/ Aadhaar card / Passport / Driving License / Ration Card / Government ID card / Defence ID Card / PAN Card
• Age proof (birth certificate / school certificate)
• Applicant passport size photograph
• Aadhaar card
• Judicial stamp as per the value as advised

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

Port Blair Municipal Council,
Mohanpura, Port Blair,
Andaman and Nicobar Islands - 744101,
India
Website [Link for website]
Phone No.+91 232576,234508
Contact link1 AND link2

Eligibility

• A valid license holder is eligible to apply for renewal.
• An application for renewal of license may be made on any date within three months prior to the expiry of the license.
• The applicant should not have got his/her license cancelled within last six months or the prescribed period before the date of current application.
• No application for renewal of license shall be accepted from the expiry of sixty days of the validity of the license.

Fees

• Please pay the renewal fees as authorities quote.
• Please pay the inspection fees as instructed.
• Security deposit as per requirement.
• Charges for affixing stamp may be required.

Validity

• A registration certificate remain in force for five years from the date on which it is granted and may be renewed from time to time for a period of five years at a time or renewed as per the period mentioned on the license.

Documents to Use

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Sample Documents

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Processing Time

• The renewal process can take 7 to 15 days.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M".

Instructions

• Please maintain records and accounts with periodic audit.
• Please follow the guidelines fixed by your state with respect to money lending business.
• There will be sudden check by the licensing authorities.
• Do not submit fake documents as a proof to get this licence renewed.
• Incomplete application will be rejected.
• Please avoid spelling mistakes while filling the application form.
• Applicant will be penalized if any information provided by the applicant while applying for this certificate is being found false or incorrect.

Required Information

• Name of the applicant
• Complete address
• Father’s name
• Partner’s name and address if applicable
• Solvency certificate details
• Property details of the applicant and partner (if applicable)
• Financial year for which the renewal is required
• License description
• License number
• Aggregate amount of money lent during the previous year
• Maximum amount of money outstanding to be reduced on any day of the previous year
• The date on which the maximum amount of money was outstanding
• Details of previous year’s security deposit
• Name of the establishment
• Aadhaar card number
• Date of application
• Mobile number
• Email ID

Need for the Document

• A money lending license needs to be renewed for a legitimate business.
• Without renewal, it is illegal to run a money lending business.

Information which might help

• While applying for renewal, the lender should make sure that he/she has not lent money during the non-renewal period.
• Avoid using fabricated documents to avail this renewal, as it is punishable.
• If the rules are not followed, punishment is inevitable.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

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