“Nidhi” means finance or fund. Nidhi Company is incorporated with an intention to increase savings and provide with finances among members only. It is allowed to take/lend loans from/to members.
Though there are no separate registrations to be done under RBI for a Nidhi company, RBI has the power to issue directives to them. Nidhi Companies are exempted from main provisions otherwise applicable to an NBFC in India. It requires a minimum of 7 members and 3 directors to start with. All such companies must append “Nidhi Limited” after its name.
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Suggested Read: All you want to know about Nidhi Company loans and Benefits of Nidhi Company Registration
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