Advantages Of Starting -Nidhi Company In India

Let’s discuss the benefit of a Nidhi company in India, just have a look:

IT IS VERY EASY TO FORM

All it needs only 7 people in which 3 members should be selected as Directors.
Requires a few basic documents.
Very easy and simple process for registration which can be done online.
Just 10 to 15 days are required to finish the process for registration.
The registration process of Nidhi company is a very simple process as compared to other types of finance companies like NBFC. The difficulty level is very minimum in Nidhi Company registration.

COST-EFFICIENT REGISTRATION

The registration fee to register a Nidhi Company is really very low and it is a pocket-friendly cost.

NO RULES AND REGULATIONS BY RBI – LESS SUBMISSION.

Being a non-financial company, the operations of Nidhi Company comes under the category of NBFC but there is no requirement to get approval from RBI. These kinds of companies will follow the Nidhi Rules, 2014 issued in regard to the working and operations of the company. It is not required to follow stringent compliances as RBI has exempted Nidhi Company so you don’t have to be in rush-n-hush while submitting all your documents.

MORE RELIABILITY IN NIDHI COMPANY

Basically, everyone likes and plans to save their money, from six-year-old to sixty-year-old person in that way, Nidhi company is one of the good ways to save your earnings in a good way. The main goal of this Nidhi Company is to encourage the habit of saving the money between its member which in some time leads to the members will not stop saving their money anytime.

LOW-RISK LEVEL

According to the Rules by Nidhi, 2014, it is very clear that a Nidhi Company can takes money deposits and lend money only to its shareholders or members which means that the risk of not receiving the repayment of loans is less when compared with other finance businesses. The safest route for lending loans is Nidhi Company and the loans that are provided at very fewer rates as compared to other finance businesses which is again a benefit to its members to receive greater savings.

NET OWNED FUND

Net owned fund is the fund or amount of capital which is deposited by the busines members to increase the funds. In that way, the ratio of net owned fund of Nidhi Company is about 1:20, which means that if an individual deposits one rupee and he/she can increase deposit of twenty rupees.

NIDHI COMPANY SOFTWARE

The most advanced benefits in starting a Nidhi company is that you can get an authority to an extremely useful, advantageous and user –friendly software called Nidhi company software and at a very pocket-friendly price. This Nidhi company software that helps the companies, such companies to do all the works related to Nidhi or business very easily.

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