Cultivating the Habit of Savings among Members A Nidhi Company can be defined as a company By Members, For the Members and To the Members.
Difference between Nidhi Companies and most of the other companies?
Nidhi Companies are NBFCs but they have been exempted from the requirement of registration under Section 45 – IA of the RBI Act, 1934 subject to certain conditions. Nidhi Companies are regulated by Ministry of Corporate Affairs, Government of India. Companies that do financial business but re regulated by other regulators are given specific exemption by the Reserve Bank from its regulatory requirements for avoiding duality of regulation. It may also be mentioned that Mortgage Guarantee Companies have been notified as Non-Banking Financial Companies under Section 45 I(9) (iii) of the RBI Act, 1934. Core investment Companies with asset size of less than Rs. 100 crore, and those with asset size of Rs. 100 crore and above but not accessing public funds are exempted from registration with the RBI.
PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED (Declaration – Reliable – Knowledge of Asset) has the rules and objectives of that are the same as a bank, but is only in effect to someone (a members group) who has agreed or joined this agreement, as a bank, but to do business for the its Members only. So if the term is a quasi – bank, I think that the rules and objectives of that are the same like the commercial but not the one honored to do business for public. Performing through banking system which comes under the Nidhi, DCA, NBFC and RBI, PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED is introducing a lot of innovative ideas day by day to make Our NATION (INDIA) financially strong and that is the reason we are one of the fastest growing NIDHI Company cum Bank in the industry. The way we provide service to our members is far better that others and we are
trying to make it much better as our aim is to provide extreme level service to people as well as to our nation. Providing a world class financial support, PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED is continuously securing the society, we live in; on the other side, creating all new service method spontaneously PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED is presenting a pleasant way which will help human being to lead the life comfortably. In a word we can say that PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED is the "New Way of Your Savings". PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED FAMILY… Nidhi is Public Limited Company formulated with the primary object to carry on the business of accepting deposits and lending money to member-borrowers only against jewels, mortgage loan of immovable property and fixed deposit receipts.
PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED registration in UP is regulated by the MCA (Ministry of Corporate Affairs) and approved by Government of India on 13.July.2014 was incorporated.
