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Section 8 Microfinance Company Registration is the most suitable option when you want to start a finance business across India without RBI approval and Capital restriction. Section 8 microfinance companies can be started with microfinance objects for social objects to help poor people to reduce poverty. Such companies are exempted to get a license from RBI under its master circular RBI/2015-16/15 DNBR (PD) CC.No.052/03.10.119/2015-16 Dated July 01, 2015. Micro Financing in India can offer for unsecured loans i.e., personal loans, group loans, Consumer loans for household, etc. at the interest rates as specified by the RBI norms (currently it is up to 26% p.a.)
Section 8 companies offer a unique pathway for organizations dedicated to social welfare. Among these, Section 8 Microfinance Companies (MFCs) play a crucial role in empowering underprivileged communities through responsible financial services. If you're considering establishing such a company, understanding the registration process is key.
 
<h3>Why Choose Section 8 for Microfinance?</h3>
 Section 8 offers distinct advantages which are as follows:
<ul>
<li>Non-profit structure: Profits are reinvested in the company's social objectives, ensuring ethical lending practices.</li>
<li>Tax benefits: Exemption from income tax, making funds stretch further and benefitting communities.</li>
<li>Simplified compliance: Compared to NBFCs, Section 8 regulations are less stringent.</li>
<li>Exempted from RBI license: Section 8 Companies are exempted to get a license from RBI until these have its asset size of Rs. 100 Crore and above. </li>
<li>Comply with RBI guidelines: Familiarize yourself with the latest RBI regulations for Section 8 MFCs, including loan limits and borrower eligibility.</li>
<li>No Minimum capital requirement: No minimum capital is required to start the microfinance company under section 8.</li>
</ul>
<h3> </h3>

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