Nidhi Company Registration
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Nidhi Company Registration
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) registered under Section 406 of the Companies Act, 2013, and governed by the Nidhi Rules, 2014. It is formed with the primary objective of encouraging savings and thrift habits among its members and providing loans to them at reasonable interest rates. One of the key reasons to choose Nidhi Company registration is that it offers a simple and cost-effective way to operate a finance business focused on mutual benefit and community-based financial support.
Unlike other NBFCs, a Nidhi Company does not require RBI approval to operate, which makes the registration process easier and more affordable. It can accept deposits and lend money only to its members, ensuring a safe and closely regulated financial ecosystem. This structure is ideal for people who want to create a small-scale financial institution, especially in rural and semi-urban areas, where traditional banking services may be limited.
Start your own savings and credit business legally with Nidhi Company registration!
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) recognized under Section 406 of the Companies Act, 2013. It is formed to cultivate the habit of thrift and savings among its members and only deals with its members for deposit and lending activities.
✅ What is a Nidhi Company?
A Nidhi Company functions by accepting deposits and providing loans only to its members. These companies are ideal for small savings and credit needs in a trusted community. The primary aim is to promote saving and self-reliance.
🛠️ Eligibility for Nidhi Company Registration
- Minimum 7 members (3 must be directors)
- Minimum ₹10 lakh paid-up equity share capital
- No preference shares allowed
- Must include “Nidhi Limited” in the name
📄 Documents Required
1. PAN Card of all directors and members
2. Aadhaar Card / Passport / Voter ID
3. Proof of Registered Office (Rent Agreement/Ownership Documents)
4. Electricity or Utility Bill (not older than 2 months)
5. Passport-size photographs
6. Digital Signature Certificate (DSC) of proposed directors
🔍 Registration Process
1. Apply for DSC & DIN
2. Name Approval via RUN (Reserve Unique Name)
3. Drafting of MOA & AOA
4. Incorporation Application through SPICe+
5. Certificate of Incorporation Issued
⏳ Time & Cost Involved
⚖️ Compliances After Registration
- Filing NDH-1, NDH-3, and NDH-4 forms
- Minimum 200 members within 1 year
- Net Owned Fund of ₹10 lakh or more
- Maintain 10% unencumbered term deposits
- Annual ROC Filings and Audit
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