1. Can I lend money in excess of Rs.20000/- in Cash?
A. Yes, but the amount should be less than 2 lakhs. The government has banned cash transactions of Rs 2 lakh or more from April 1, 2017, through the Finance Act 2017.
2. Can I lend money in excess of Rs.20000/- through Bearer Cheuqe i.e paid across the Bank Counter to the Borrower?
A. Yes. That can be done.
3. In both the above Cases will there any problem in recovery of Money U/s 138 of NI Act as money was paid in cash or Bearer Chq above Rs.20000/-?
A. You can file cases under both circumstaces, if you have cheques to that effect and it would be maintainable.
4. Under Which Circumstances Registrar under Bombay Money Lenders Act can take a legal action or Suryev or Raid against Registered Money Lender by complain by Borrower?
A-If they come to know if you're in contravention or violating the explicit provisions of BMLA.