Nidhi Company, is the one of non banking Indian Financing sector and recognized under area 620A of the Companies Act, 1956. Their main business is borrowing and providing cash only in between their members. The business doing Nidhi business, viz. obtaining from members and lending to members just, are known under different names such as Nidhi, Permanent Fund, Advantage Funds, Mutual Benefit Funds and Mutual Benefit Companies.

You can do financial business like gathering deposits from members in type of fixed deposit, repeating deposit, open savings accounts of members and disperse loans to members(individual, effectively, mortgage, jewellery, gold, automobile etc.) Nidhis are more popular in South India and are extremely localized single office institutions.They are mutual advantage societies, since their negotiations are restricted only to the members; and subscription is restricted to individuals. The primary source of funds is contribution from the members. A nidhi company is supposed to carry out all its schemes and strategies according to the standards of RBI. It can not carry out any plan either loan or deposit of more than 5 years. The loans are given to the members at reasonably reasonable rates for functions such as house building or repair works and are normally protected. The deposits mobilized by Nidhis are very little when compared to the orderly banking sector. Nidhi in the Indian context suggests "treasure". Nevertheless, in the Indian sector, it refers to any mutual benefit society notified by the Central Federal government as a Nidhi Company. They are developed mainly for promoting the habit of thrift and savings amongst its members.

 

Address:Crystal Vision,45B,Hasanpur Main Road,1st Floor,I.P.Extension,Patparganj,Delhi-110092.

 

Contact:011-43557608, 7838272423, 9711105597, 01122235922

Location

New Delhi

Disciplines

• Business

Website

http://www.taxexemption.in/nidhi.html