Nidhi Company Registration India

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What is a Nidhi Company?

It is a company classified as an NBFC (a Non-banking financing company) and registered under Section 406 of Companies Act, 2013. The main business of such a company is to facilitate lending money between the core members of the company. This way members (or shareholders) are encouraged to save money and invest them within the company. These deposits are then used by the company for its members (or shareholders), to provide loans or advances, and to acquire government-issued stocks/bonds/debentures/securities. It is regulated by the Ministry of Corporate Affairs, while the RBI monitors all its financial dealings.

Benefits of Nidhi Company Registration India

Cheaper To Borrow
As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money. This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.
Encourages Savings
It encourages all its members to save money and encourages a thrifty lifestyle. A Nidhi Company Registration India, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.

Documents Required for Nidhi Company Registration Online

Pan Card
Self-attested copy of PAN Card
Driving License/ Voter ID/ Aadhaar Card/ Passport
Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport
Bank Statement/ Telephone Bill/ Mobile Bill/ Electricity Bill
Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill
Passport-size Photograph
Specimen Signature Certificate

10 things Nidhi Companies cannot do as an NBFC (Non-Banking Financial Company)

A Nidhi company cannot deal in the following –

  • Chit fund business
  • Hire purchase finance
  • Acquisition/insurance of securities issued by any corporate
  • Engaging as an NBFC in the business of advances or loans
  • Leasing finance
  • Acquisition of stocks/shares /bonds/securities/debentures issued by any local authority /Govt./marketable securities

Nidhi Company Registration Process

Contrary to what you might think, Nidhi Company Registration Online is a simple 3-Step process and can be done completely online. We’ve laid it out below.

  • Name Reservation – We help you reserve your name with MCA.
  • DSC and DINs – We help you get 1 DSC and 3 DINs.
  • Documents and approval – We help you at every stage of the documentation process and in getting in-principle approval from the RBI.

FAQs on Nidhi Company Registration Online

A minimum of three branches can be opened in a particular district. In case you want to expand outside the district or want to open more than three branches, the Registrar of Companies need to intimated 30 days prior to their opening.

No, members are only allowed to deposit, borrow, or lend funds.

Any person can deposit, lend or borrow money through the provisions provided by the Companies Act, 2013. Hence, they can all become members of a Nidhi Company. provided they are not a corporation or a company.

Here's How it Works

1. Fill Form
Simply fill the above form to get started.
2. Call to discuss
Our startup expert will connect with you & prepare documents.
3. Get Certificate
Get your company incorporation certificate

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