Micro-Finance

Now the Good news is though how much ever difficult it may look that a law on Crowd Funding can form, there is always a silver lining given by Micro-Finance industry, because even this industry was considered very difficult to implement but now there is some clarity on the it and it has evolved as a successful model bringing about huge change in the poor entrepreneurs sector in our country which was untouched.

This is how Micro finance works- Many rich people come together and pool funds and form a society or a trust and purpose of this entity has to be charitable and upliftment of the poor. The entity has to be register and regular auditing has to be done, Taxation, and compliance with insurance regulation.Once it is formed, loans are given to poor people to cover their operating costs.

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