Get Better Nidhi Company Registration Online Process & Requirement by Simple Steps
What is a Nidhi Company? Nidhi companies are one of the most emerging business structure in India with a lot of scope in the future. Nidhi company is a type of non-banking financial institution regulated by the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013. It is formed for the sole purpose of cultivating the habit of thrift and savings amongst its members. It operates for their mutual benefit. A Nidhi company is registered as a public limited company having "Nidhi Limited" as part of its name. For example, MyMoneyKarma Nidhi Limited. The minimum number of members in case of public limited companies should be 7 and a maximum cap on these numbers isn't set. The procedure of nidhi company formation is quite easy and it does not require any RBI approval for that kind of company registration in India. Objective of Nidhi Company What is the objective of a Nidhi Company? The primary objective of Nidhi company is to encourage savings among its mem