Begin your Micro Finance Company registration in Bangalore affordably with Shop Legal. These institutions cater to low-income groups, offering smaller financial solutions compared to other sectors. Microfinance entities typically lack direct access to traditional banks and financial institutions.

Micro finance is an important firm which provides lots of benefits other than banks. It includes

• • Microfinance companies extend financial aid to enterprises,
• • Fostering women's entrepreneurship and small businesses for elevated success.
• • These entities offer crucial financial backing to start-ups and provide small hand
loans at nominal amounts, mitigating the risk of accumulating high debts in the future.
• • Additionally, they formalize lending processes, aiding in the establishment of Microfinance Companies.

Formation of Microfinance Companies

For financial operations, Non-Banking Finance Companies (NBFCs) need authorization from the Reserve Bank of India (RBI). RBI grants specific exemptions to certain businesses, allowing them to conduct limited financial activities. Shop Legal facilitates microfinance company registration in Bangalore through two distinct pathways.

• • Non-Banking Finance Companies (NBFC) duly registered with RBI
• • Section 8 companies (companies formed under Section 8 of the Companies Act 2013).