Following are the requirements of Nidhi company:

  • It shall be incorporated as a Public Limited Company.

  • There should be minimum  7 shareholders, 3 directors, and Rs. 5,00,000 Capital (Equity).

  • The objective should remain the same i.e. lending-borrowing among the members.

  • It should have last word “Nidhi Limited” as part of its name.

  • It should have no less than two hundred members.

  • Net Owned Funds should be more than Rs. 10 Lakhs or more.

  • Unencumbered term deposits of not less than ten percent of the outstanding deposits.

  • The ratio of Net Owned Funds to deposits of not more than 1:20.

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