Last year, I had asked RBI if an individual can engage in the business of financing of vehicles and have his name endorsed on the Registration Certificate as such. I was informed that one can. However, someone has pointed out recently that it is not true and one needs some form of registration with the RBI in order to offer loans against vehicles.
Could someone clarify the correct position with reference to relevant provisions of law! Thanks - Rakesh Agarwal [Non-text portions of this message have been removed]
