Nidhi Company Registration

Nidhi Company Registration

One type of Nonbanking Finance Company (NBFC) that is exempt from the Reserve Bank of India (RBI) licensing requirements is the Nidhi Company. The members of Nidhi Company are how it operates. It exclusively makes loans to its members and is able to take deposits.

The Nidhi Business, which involves lending to and borrowing from members only, is carried out by a corporation that goes by several names, including Benefit Funds, Nidhi Permanent Fund, Mutual Benefit Funds, and Mutual Benefit corporation. Nidhi is a highly specialized single office institution that is particularly well-liked in southern India.

Channelizing Small Savings

Such a corporation seeks to instill prudence and savings among the middle class and lower classes of society.

Minimum Required Capital:

To incorporate a Nidhi Company, you must pay a minimum of Rs. 5,00,000/- (five lakh rupees only). A Nidhi Company must be an open business.

Documents required for the formation of Nidhi Company

• Pan card and Residence Proof of Directors of the Company.
• Copy of the rental agreement/EB Card copy of Registered Office.
• Copy of latest Bank Statements/Telephone OR Mobile Bill/Electricity or Gas Bill.
• Passport size Photograph
• Specimen signature blank document with Signature (Directors Only)