Nidhi Companies – Regulatory Perspective

By Team Lawgical Startup

The name “Nidhi” in Nidhi Company means “Treasure”.The purpose of incorporating a Nidhi Company is to encourage savings as well as thrift amongst its members. To fulfil this objective of cultivating the habit of saving and frugality amongst its members, Nidhi companies are allowed to take a deposit from and lend to the members only.…