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Section 8 Microfinance Company Registration: Process & Benefits

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Lack of access to minor financial services is also one of the biggest obstacles faced by most individuals and small businesses in India. Conventional financial institutions tend to demand rigid paperwork and collatels thus, low-income citizens and rural business persons are not able to secure credit. Microfinance institutions fill this gap by offering micro loans and financial services to the underserved communities. Micro finance company registration may be an opportunity to be profitable as well as socially significant whilst starting a financial inclusion business. The success of section 8 microfinance company registration is also preferred by many entrepreneurs and social organizations as it enables them to carry out micro-lending business and yet contribute to social betterment. This manual elaborates the definition, classifications, requirements, documents, and procedure of registering a microfinance firm in India. What does a Micro Finance Company mean? A microfinance organiz...
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Micro finance company registration in India: All About Online Registration of Section 8 Companies

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  The last decade has almost certainly been marked with steadily increasing emphasis on a growing level of social entrepreneurship, financial inclusion, and sustainable development in India. Many are increasingly viewing business, even today, as not only an income-generating activity but one contributing towards the welfare of society. This is when Section 8 companies and microfinance institutions come into the picture. Nowadays, it has become very easy to register a section 8 company online because the entire legal procedure has been simplified by the government. What Is a Section 8 Company? A Section 8 Company is a short form for the non-profit organizations registered under the Companies Act, 2013. Unlike the regular companies, a Section 8 company is formed with the objective to promote social welfare, charity, education and the like-non-profit goals including financial inclusion and environmental protection or any other objectives. One of the most important characteristics of a...
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