Start your own Mutual Benefit Society. Promote the habit of thrift and savings among members with expert Nidhi Company registration.
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) recognized under Section 406 of the Companies Act, 2013. Its core business is borrowing and lending money between its members. They are created for the mutual benefit of their members and to cultivate the habit of thrift and savings.
Nidhi Companies are popular because they are easier to register and regulate than other NBFCs. They are exempted from the core provisions of the RBI Act, making them an attractive option for small-scale financial services within a closed group. Taxcrafted Solutions ensures your Nidhi Company is compliant from day one.
Essential documents and mandatory compliance for Nidhi Companies.
Common queries about Nidhi Company Registration.
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) formed to borrow and lend money to its members. It works on the principle of mutual benefit and cultivates the habit of savings among its members.
No, Nidhi Companies are exempted from the core provisions of the RBI Act. They do not require a license from the RBI to start operations but must strictly follow the Nidhi Rules, 2014.
Only individuals can become members of a Nidhi Company. Bodies corporate, trusts, or minors cannot be admitted as members (though deposits may be accepted in the name of a minor by a natural guardian).
To incorporate a Nidhi Company, a minimum paid-up equity share capital of ₹5 Lakhs is required. However, the company must raise its Net Owned Funds (NOF) to at least ₹10 Lakhs within one year of incorporation.
Initially, a Nidhi Company can only operate within the district of its registered office. To open branches outside the district (but within the same state), it must have been profitable for three continuous years and requires Regional Director approval.
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