Nidhi Company

Nidhi Company

“Nidhi” is a Hindi word, which means finance or fund. Nidhi Company is incorporated with an intention to cultivate savings among members and to provide finance among members only.

What is a Nidhi Company?

“Nidhi” is a Hindi word, which means finance or fund. Nidhi Company is incorporated with an intention to cultivate savings among members and to provide finance among members only. It is allowed to take loans from members and can lend to only members. Hence, it can not accept deposits or lend from/to non-members.​

Though there are no separate registrations to be done under RBI for a Nidhi company, RBI is empowered to issue any directives to them. Nidhi Companies are as such exempted from main provisions otherwise applicable to an NBFC in India. It requires minimum 7 members and 3 directors to start with. As a part of suffix, all such companies must append “Nidhi Limited” after its name. Nidhi Company is very easy to form and there are minimum compliances afterward. You may visit here to know all about loans that Nidhi company can offer and interest rates that it can charge.

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