Start learning 50% faster. Sign in now
Nidhi Company is an NBFC (Non-Banking Financial Company). Nidhi in simple terms means a company which is formed with the object of cultivating the habit of thrift and savings amongst the members and receiving deposits from and lending to the members for their mutual benefits. Only individual members are allowed in Nidhi companies and it cannot give loans to companies. These are governed by the Nidhi Rules 2014 issued by the Ministry of Corporate Affairs . Nidhi Company though it is a finance company and falls under the category of NBFC, does not require approval of RBI . Nidhi Company does not require to obtain a licence from RBI. Though the Nidhi Companies are free from the strict compliance of the RBI regulations, their deposit acceptance operations are governed by the RBI
By how much did India's forex reserves drop for the week ended June 14?
The new type of loans launched by Maharashtra State Co-operative bank for the prisoners to provide a loan amount upto Rs _______ naming it ‘Khavti...
The Reserve Bank of India has approved _______ of surplus transfer to the government for 2022-23 and has maintained the contingency risk buffer 50 basis...
Who has been appointed as India's new Ambassador to the U.S. after retiring as Foreign Secretary?
Which two organizations partnered to promote net-zero buildings in India?
The Centre has allocated Rs 600 crore to states for handling of paddy straws that includes it’s new initiative on ex-situ supply chain management ahea...
Which Indian states have Telugu as their official language?
Which state led the assessments in Phase 1 of the Khelo India Rising Talent Identification (KIRTI) program?
What is the purpose of the Urban20 engagement group under the G20?
A) To bring together youth leaders from major G20 cities to inform the discuss...
Where did the third edition of 'Khel Mahakumbh ' commence , featuring sports events like volleyball, kabaddi, cricket, basketball, and athletics?