"NIDHI COMPANY" Set-Up And Compliances

A "Nidhi company" is a business that has been granted recognition under the 2013 Companies Act and the 2014 Nidhi Rules. Their principal functions, which fall under the non-banking Indian finance sector, are money borrowing and lending among their members. It is a business that has been set up specifically to instill the value of saving money in the minds of its members. They are generally known by a variety of names, including Mutual Benefit Funds, Benefit Funds, Permanent Funds, and Mutual Benefit Companies.