Starting a Finance Company in India is not easy, It requires prior approval of RBI. However, there is an exception, one can start Finance business by incorporating a Nidhi Company. Nidhi Company is one the form of company which can accept deposit to its members and also can lend money to them.
Its quite easy to make members in Nidhi company by taking on records certain KYC documents. However, there is one restriction in Nidhi company that it cannot open any branch outside state. Hence if you need expansions in your business you need to form another Nidhi company in other state.
At Finlogic, we provide hassle free incorporation of Nidhi company and that too very fast i.e within 15 days of submission of documents.