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NIDHI COMPANY BASIS BASIC INFORMATION ABOUT NIDHI COMPANY

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NIDHI’S • “Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulation of such class of companies. www.websoftex.com

OBJECTIVE • The primary object of Nidhi's is to hold on the business of accepting deposits and disposal cash to member-borrowers solely against jewels, etc., and mortgage of property.

• Nidhi’s on account of their money and body strength have opened branches inside the various revenue district and even outside. www.websoftex.com

OBJECTIVE •Nidhi’s on account of their money and body strength have opened branches inside the various revenue district and even outside.

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PRINCIPLE The principle of mutual profit has been to pool the savings from members and lend solely to members and ne'er have handling Non members.

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PRINCIPLE Nidhi’s aren't expected to interact themselves within the business of check Fund, rent purchase, insurance or in the other business as well as investments in shares or debentures.

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MEMBERSHIP A Nidhi shall not admit a body company or trust as a member.

A minor shall not be admitted as a member of Nidhi. it should be noted that deposits could also be

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MEMBERSHIP Every Nidhi shall make sure that its membership isn't reduced to but 2 hundred members at any time. accepted within the name of a minor, if they're created by the natural or trustee United Nations agency may be a member of Nidhi

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ADVANTAGES 1. Promotes little savings among middle and lower socio-economic class 2. Easy supply of loan to members against collateral 3. Accepts term deposits for timely returns www.websoftex.com

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