Message: Return type of CI_Session_files_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::close() should either be compatible with SessionHandlerInterface::close(): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::read($session_id) should either be compatible with SessionHandlerInterface::read(string $id): string|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::write($session_id, $session_data) should either be compatible with SessionHandlerInterface::write(string $id, string $data): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::gc($maxlifetime) should either be compatible with SessionHandlerInterface::gc(int $max_lifetime): int|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Cannot modify header information - headers already sent by (output started at /home2/franchi4/public_html/legal/system/core/Exceptions.php:271)
Microfinance services can be provided under different legal forms of organizations. Mainly the prevalent forms are NGO, Cooperative and NBFC. All these 3 forms require different regulatory procedure to follow in order to enable you to conduct Microfinance activities. NGOs are registered and regulated by societies registration act, 1860. However, many states have their own societies acts too. Second, Cooperatives also similarly are regulated through either state cooperative acts or multistate cooperative act. Last and presently the most famous form of organization is NBFC-MFI. Most of the times, it is a private limited company which applies to RBI for an NBFC license. Each form of these organizations has its own merits and demerits. But in your situation as described by you, it may be suggested to go for the first form of organization.
Because:
1) It would require less legal and regulatory hurdles unlike other forms,
2) It may be more helpful for you to experiment it as a pilot project as it demands less resources than other forms.
So, the answer is definitely yes. You can make foray in Microfinance activities without obtaining a license from RBI.
