We provide Nidhi Company registration in Patna Bihar, Online Nidhi Company Registration in Patna, Bihar. Nidhi Company is working like a Bank but it is different from legal definition of Bank and NBFC. On Nidhi companies Nidhi Rules, 2014 is applicable. We will give you all information about Nidhi Company registration in this article in brief.

Nidhi Company registration

“Nidhi” is a Hindi word, which means Finance. Nidhi Company is company registered under company Act, 2013. Section 406 of companies Act and Nidhi Rules, 2014 govern Nidhi companies. Nidhi Company is public company. A Nidhi company does not require any License from RBI (Reserve Bank Of India).Nidhi Companies established with object of dealing in finance i.e. developing habit of thrift and saving amongst its members. Nidhi companies allowed taking deposits from its member and lending finance to its members. RBI directions are followed by all Nidhi Companies on deposits acceptance scheme.  Nidhi deals with its shareholders/ members only.  Fund involved in Nidhi Companies are contributed from its members only. Nidhi companies cannot issue preference shares.  Nidhi company’s names are different from name of normal private limited companies, its name like benefit Fund, Mutual Benefit fund etc. In Nidhi Companies most of the fund is come from the members.

Some Important Points:

1. Nidhi Companies maximum loan to one person will not exceed Rs 200,000.
2. Nidhi Companies cannot give any unsecured loans.
3. Maximum Period of gold loan is 1 year.
4. Nidhi company cannot provide any vehicle loan.
5. Interest rate on deposits should not exceed the rate provided by NBFC currently which is 12.5%.
6. Interest rate on RD is also maximum 12.5%.
7. Interest Loan on Loans not exceeds the limit which is normally given by Banks.
8. Minimum period of Fixed Deposits is 6months.

Advantage of Nidhi Company Registration:

1. Cheap and best for financing services.
2. Separate legal entity.
3. Easy to maintain.
4. Enjoy Better credibility.
5. Minimum Documentation Required.
6. No RBI approvals required.
7. No need to use “private limited “ or “Limited “ in name.

Documents Required For Nidhi Company:

1. Copy of Pan Card.
2. Copy of Aadhar card/voter id card/ passport.
3. Electricity Bill/gas bill not older than 2 months.
4. Bank Statements of each member.
5. Copy of NOC from owner of registered office area.
6. Phone number & email id.

Procedure of Nidhi Company Registration:

1. Documents Preparation.
2. Apply for DSc.
3. DIN application for directors.
4. Name filing.
5. Online filing of with other documents.
6. Online payment of fee.
7. Incorporation certificate issued by MCA.

Nidhi companies is type of Non Banking Finance company, in which minimum 7 members is required. At beginning minimum 3 directors is appointed for manage day to day business.  Minimum Capital for incorporation of a Nidhi company is Rs. 500,000. Nidhi companies do not required any RBI license. Nidhi Company is easy and cheap to form to register in NBFCs. Government of India give facility to online registration of Nidhi Company. So it is good for related business entities. We will do you work, you no need to come our office. Send us all required documents through emails. Pay our fee online.