Nidhi company as we know are those companies whose core business is borrowing and lending money between its members, they are known by many other names like a permanent fund, benefit fund etc. It comes under the non-banking finance sector, recognized under section 406 of the companies act, 2013. They are regulated by the ministry of corporate affairs and are empowered to issue directions regarding their deposit acceptance activities and they use these powers usually through RBI, Nidhi companies do not require any permissions from the RBI or any license from them but they are still indirectly under the RBI as Ministry of the corporate affair which regulates them exercises it’s powered through RBI only. So when the ministry of corporate affairs feels any need to give directions to these Nidhi companies they do so through RBI only.

Nidhi companies deal strictly with their members only, so all the activities take place within the members of that particular company. Nidhi companies are incorporated to develop the habit of savings among its members. Also, their deposit and lending activities are carried out for the benefit of their members only. Nidhi CBS Software is very popular software which is used by most Nidhi companies and Nidhi CBS software plays a very crucial role in managing operations at Nidhi Company too with ease.

Benefits of Registering Nidhi Company in India

Let us look at a few benefits then:

1. Easy Formation: The registration process is very simple, and very few documents are required and it takes about 10 to 15 days to get it registered. Nidhi Company can be registered with just 7 persons out of them 3 will be appointed as directors. Also with the help of Nidhi software for cloud managing operations is quite easy.

2. Registration Is Not Expensive: It is not very expensive to get Nidhi Company registered as the process is simple and the seed capital requirement is only 5 lac rupees.

3. No RBI Regulations: They do not require any approval from the RBI and simply follow Nidhi rules, 2014. With the help of Nidhi Software for Cloud managing operation of Nidhi Company is also quite easy as well as storing and managing data.

4. Indian People Have The Habit Of Savings: Since Nidhi companies help people with this objective of savings only, it is very easy to find members as most Indians do the saving irrespective of their age. So not only registration is easy but finding members is easy as well. And with the help of Nidhi CBS software managing affairs is also pretty easy.

5. Low-Risk Level: The risk of non-payment of loans is less as it deals with members only. And it works according to Nidhi rules, 2014. It is considered very safe in the financial market.

6. Nidhi Company Software: And at the end, there is Nidhi company software to help you in managing operations and keeping a close look at the activities. Nidhi CBS software and Nidhi software for cloud make the task of managing affairs at Nidhi companies very simple.

These are some of the benefits of registering the Nidhi Company in India.