Biz Registration is a platform for peer-to-peer lending, providing the option for individuals, companies, and financial organizations to lend to others in the crypto market. Created by a team of individuals with expertise in finance and technology, Biz Registration connects borrowers and lenders directly through its mobile app to change lives through peer-to-peer lending.
Nidhi Company is a term used to describe a type of microfinance institution (MFI) that offers loans and insurance to poor people in India. Nidhi Company is a type of non-banking financial company that has been authorized by the Reserve Bank of India to conduct business similar to an NBFC (Non-Banking Financial Company).
This company is of two types: one under the Companies Act and another that exists under the Insurance Act. The former can take deposits from non-members, whereas the latter cannot take deposits from anyone except members. Both kinds of Nidhi companies are exempted from various provisions applicable to NBFCs under the Companies Act or Insurance Act, whichever applies in their specific case. They do not require separate registration but would have to be registered with RBI if they exceeded certain limits prescribed by it.
Nidhi Companies are very simple to form and easy to operate and there are minimum compliances afterward. To begin with, it needs a minimum of 7 members and 3 directors.
This Company is exempted from the annual audit by an Authorized Auditor under Section 37 A of the Companies Act, 2013. As per section 37 A(c) of the Companies Act, 2013 if a company has paid or will pay its shareholders an amount equal to five times their paid-up capital or such higher amount as may be notified by the Central Government, it will be required to make an annual return to the Ministry of Corporate Affairs regarding its activities.
The company's primary objective is to lend money at competitive interest rates and facilitate the process by which members can save money and earn from it. It has all the features of an NBFC, such as control over its management, rupee and foreign bank deposit limits, and provision for loans to members as well as to non-members from time to time.
It provides commercial loans, personal loans, housing loans, educational loans, and many more products for its members. Nidhi Company is an investment scheme of government where the expenses are recouped through interest earned on deposited money. It is a fixed deposit scheme that can be used to generate long-term capital.
We will provide you with all the information regarding documents that are needed by Nidhi Company to be submitted during its registration.

All Directors Must Submit these Documents:

Get your NIDHI COMPANY registered with Biz Registration within 5 days at ₹ 21999/-