Nidhi Company loans, like any financial products, have both advantages and potential drawbacks. It’s essential for borrowers to understand the complete picture before taking a loan from a Nidhi Company. Here are some untold truths and considerations about Nidhi Company loans: Advantages: Accessibility: Nidhi Companies often serve local communities and are more accessible to borrowers, …
The legal framework governing Nidhi Companies in India is primarily established under the Companies Act, 2013, along with related rules and regulations. Nidhi Companies are regulated by the Ministry of Corporate Affairs (MCA) and, in some aspects, by the Reserve Bank of India (RBI) as well. Here’s an explanation of the legal framework behind Nidhi …
Explained: The Legal Framework Behind Nidhi Companies! Read More »
Q1. What are Non-Banking Financial companies (NBFCs) and how it works? A Non-Banking Financial Company (NBFC) is a financial institution that provides banking services such as loans and advances, investments, leasing, hire-purchase, insurance, and other financial products and services without having a banking license. NBFCs can raise funds from various sources such as deposits, bonds, …
Q. What are the Nidhi Limited Companies and how it works? NIDHI Limited Companies are a type of Non-Banking Financial Company (NBFC) in India, formed for the benefit of its members. The primary objective of Nidhi Companies is to promote the habit of thrift and savings among its members by providing them with financial assistance …
