Nidhi Company
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) recognized under Section 406 of the Companies Act, 2013, and governed by the Nidhi Rules, 2014.
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Benefits of a Nidhi Company
Simplified Financial Model: Operates only among members, reducing credit risk.
No RBI Approval Required: Registered with the MCA, not regulated by RBI for core operations.
Encourages Savings & Loans: Promotes the habit of thrift and savings among members.
Limited Liability: Membersâ liability is limited to their share capital.
Separate Legal Identity: The company enjoys perpetual succession and can own property in its name.
Ideal For
Individuals wanting to create a mutual benefit society
Entrepreneurs looking to start a community-level finance business
Local groups and associations aiming to formalize their lending and deposit systems
Small businesses or co-operatives seeking to promote self-help and savings culture
Incorporation Process
Name Reservation (SPICe+ Part A)
Filing of name reservation application through MCA for Nidhi Company.Document Preparation
Drafting of MoA, AoA, and declaration forms along with KYC documents of all directors and members.Company Incorporation (SPICe+ Part B)
Submission of digital incorporation forms along with PAN, TAN, and bank account setup.Post-Incorporation Compliance
Filing of NDH-1 and NDH-3, ensuring compliance with member requirements, net owned funds, and deposit limits.Ongoing Compliance & Advisory
Filing of annual returns, financials, and adherence to Nidhi Rules.
Documents Required
PAN & Aadhaar of all directors and shareholders
Passport (for foreign nationals, if any)
Utility bill or bank statement for current address proof
Proof of registered office (rent agreement, NOC, utility bill)
Passport-size photos of directors
Digital Signature Certificates (DSC)
Director Identification Number (DIN)
What Youâll Get
Certificate of Incorporation
Company PAN & TAN
DIN & DSC for all directors
MoA & AoA tailored for Nidhi operations
Support with initial NDH filings (NDH-1, NDH-3)
Ongoing regulatory guidance under Nidhi Rules
Frequently Asked Questions
No. A Nidhi Company can only accept deposits and provide loans to its members. It cannot deal with non-members or perform banking activities like issuing cheques or credit cards.
You need at least 7 members and 3 directors to incorporate, and within 1 year, the company must have 200 members.
A Nidhi Company must start with a minimum paid-up capital of âč10 lakhs.
No, RBI approval is not required as Nidhi Companies are exempted from core RBI regulations.
Yes, after 3 years of continuous profit-making and subject to compliance, it can open branches within the same district or state.
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