Nidhi Companies Meaning, Nidhi Company and NBFC, Nidhi Company Website

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MUTUAL BENIFIT SOCIETY OR NIDHI COMPANY
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INTRODUCTION

• Nidhi Company is a company incorporated as such
  with an objective of
• Cultivating the habit of thrift
• Saving amongst its members
• Receiving deposits from its members
• Lending money to it members.

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SET UP PROCEDURE
Rule 4 of NIDHI Rules 2014 provides that 1. A
Nidhi Company should be incorporated as a public
company under the Companies Act, 2013 (the Act)
with paid up equity capital of five lakh
rupees. 2. After the Act came into effect no
Nidhi company should issue preference shares.
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SET UP PROCEDURE
3.If preference shares are issued prior to
commencement of the Act, they shall be redeemed
as per the terms of their issue. Nidhi Company
is created with the objective of cultivating the
habit of thrift and saving amongst its
members.  It shall have the words Nidhi
Limited as part of its name.
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Minimum Number of members Needed

• Minimum number of members shall be 200.
• Net owned fund of ten lakhs or more.
• Unencumbered term deposit of not less than 10 of
  outstanding deposit.
• Ratio of net owned fund to deposit of not more
  than 120.

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Share capital and allotment

• Every Nidhi Company shall issue equity shares of
  the nominal value of not less than ten rupees
  each.
• No service charge shall be levied for issue of
  shares.
• Every Nidhi shall allot to each deposit holder at
  least a minimum of ten equity shares or shares
  equivalent to one hundred rupees.

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LOANS BY NIDHI

• A Nidhi shall provide loans only to its members.
• two lakh rupees, where the total amount of
  deposits of such Nidhi from its members is less
  than two crore rupees
• seven lakh fifty thousand rupees, where the total
  amount of deposits of such Nidhi from its members
  is more than two crore rupees but less than
  twenty crore rupees

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LOANS BY NIDHI

• twelve lakh rupees, where the total amount of
  deposits of such Nidhi from its members is more
  than twenty crore rupees but less than fifty
  crore rupees
• fifteen lakh rupees, where the total amount of
  deposits of such Nidhi from its members is more
  than fifty crore rupees

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ADVANTAGES

• The Nidhi Companies, which may also be called as
  the Mutual Benefit Societies/Companies, offer
  certain exclusive features or advantages as
  compared to the regular finance investment
  companies.
• The following are the main and most
  impressive nidhi mutual benefit company
  advantages available in entire India

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ADVANTAGES

• These are highly localized single office
  institutions duly recognized by the government
  and governed primarily by the members, 
• These companies offer easy financial loans to the
  financially middle and lower classes of people,
  with minimum formalities. 
• The secured loans are available at rather
  reasonable rates for the purposes like house
  construction or repairs. 

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ADVANTAGES

• Collateral in form of jewelry or mortgage of
  property is accepted.
• accept term deposits for timely returns.
• guarantee secured investments by virtue of rigid
  membership structure.
• The loans and savings are facilitated by the
  minimum documentation and formalities.

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BUSINESS IDEA SOFWTARE MONEY