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People often thinks to start a New Nidhi Company, they should have known first- WHAT IS A NIDHI COMPANY?
A Nidhi company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act 2013. Their core business is borrowing and lending money between their members. Examples of a Nidhi Company are permanent funds, mutual benefit funds, a mutual benefit company and benefit funds. In simple words, Nidhi means a company which has been incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its members only for their mutual benefit.
Nidhi company registration online is simple and less complex as compared to other types of finance companies like NBFC which require RBI license to start. A nidhi company can be started with an initial capital of Rs.5 lakh and requires at least seven people to start with (minimum 7 members). Nidhi company registration also requires three directors initially. Every promoter or director needs a copy of PAN card, ID proof and address proof to apply for a Nidhi company in India.
Have look on a Short Video related to all about Nidhi Company Registration
New Nidhi Company can’t deal with chit funds, hire-purchase finance, leasing finance, insurance or securities business. It is strictly prohibited from accepting deposits from or lending funds to, any other person except members.
It is constituted for sole purpose of helping its members. It is formed for mutual benefit.
Registration of New Nidhi Company instills the feeling of savings and thriftiness among its members.
The investments are secured and lucrative.
New Nidhi Company doesn’t require an RBI license.
New Nidhi Company shall, within a period of one year, ensure that it has-
Answer is Yes, you can IFSC in Nidhi company. But, RBI do not allot IFSC to NIDHI company directly which means Nidhi Company needs to arrange IFSC services in an indirect way.
No, Cheque book facility is available only for Banks. Nidhi Company can not provide cheque book facility to its members.
Yes, Nidhi Company can issue passbooks to its member to keep the record of entries of their deposits.
Not at all, RBI exempted Nidhi Company for taking license for providing services of lending and accepting money from or to its members.
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