![]() The ratio of net owned fund to deposits of not more than 1:20.Unencumbered term deposits of not less than 10% of the outstanding deposits.Net owned funds of 10 lakh or more (Capital plus free reserve fewer losses).Minimum requirements for Nidhi Company ComplianceĮvery Nidhi Company shall in his first year of closing, shall comply with the following requirements: If you can fulfill the above criteria, then we can proceed with Nidhi Company registration. The name of the Nidhi Company shall end with the words ‘Nidhi Limited’. ![]() Need to have minimum documentation for Nidhi Company Registration like PAN, id proof and address proof.Out of the seven, three may be the directors of the Company.To register a Nidhi Company in India, one needs to fulfill the following criteria: Let us understand the rules and regulations relating to Nidhi Companies in India. Nidhi Company is rather easy to form as compared to other forms of NBFC and require less capital contribution than any other finance company. ![]() ![]() Nidhi Company has gained a lot of popularity in the recent times because all other forms of business for finance business has been suspended like section 8 microfinance, multistate society etc. In this article, we shall discuss the Nidhi Company and the related regulations in brief. Hence, broadly the finance business in India can only be classified into the above two categories.Īs said, both the above category is governed by the Reserve Bank of India (RBI) except few forms of Non-Banking companies like housing finance companies, chit fund company, Nidhi Companies. There can be other forms as well as cooperative society, multistate society etc., however, they are very limited in their sense. To start a finance business in India, there are only two options which are available to the entrepreneur, one is banking companies and other is Non-banking companies. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2023
Categories |