NIDHI Company is governed by NIDHI Rules 2014. They are incorporated in the nature of public limited company and hence they have to comply with two set of norms, one of the public limited company as per companies act 2013 and another one is for NIDHI rules 2014. No RBI approval is necessary to register the company, as RBI has specifically exempted this category of NBFC in India to comply its core provisions such as registration with RBI. Every NIDHI shall with in a period of one year from the commencement must ensure that it has not less than 200 members.
Benefits of NIDHI Company are as:
Yes, the Deposits with such companies are safe and secure because the Ministry of Corporate Affairs and Reserve Bank of India has framed rules and regulations to ensure the safety and security of Deposits. And the NIDHI Company compulsorily abide by the rules of Central Government
The NIDHI Company uses the funds in lending to shareholders as per NIDHI Rules. It lends such money in the form of small loan for business and finance.
Any person who is above 18 years of age as per the standard age proof can become a member of the NIDHI Companies. The person desirous of becoming a member should have valid ID Proof and Address Proof.
I am very pleased with the project you have done, and especially your commitment to providing a quality solution when it meant going the extra mile to do so.
WE WORKED WITH THELEGALBANK TO REGISTERED OUR COMPANY Protocloud Technologies PVT. LTD. THE COMPANY IMPRESSED US WITH THEIR SERVICES.
WE WORKED WITH THELEGALBANK TO REGISTERED OUR COMPANY PIXYRS SOFTECH & RESEARCH PRIVATE LIMITED THE COMPANY IMPRESSED US WITH THEIR SERVICES.
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