The money lending business in India operates under a framework of regulations to ensure fair practice and protect borrowers. This article delves into the legal aspects of money lending, outlining the requirements for lenders and the protections in place for consumers. It highlights the relevant legal statutes and offers tips for starting a legal money lending business in India. Understanding these essentials can help entrepreneurs navigate the competitive yet regulated environment of business loans in India.
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Legal Insights into the Money Lending Business in India
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