Introduction to eNidhi A Nidhi company is a type of non-banking financial company (NBFC) in India that is formed with the objective of cultivating the habit of thrift and savings among its members. Benefits of Nidhi Loans Here are some benefits of taking a loan from a Nidhi company: Lower Interest Rates: Nidhi companies usually offer lower interest rates than traditional banks and other financial institutions. Flexible Loan Terms: Nidhi companies can offer flexible loan terms, including longer repayment periods and customized repayment schedules to suit the borrower’s needs. Easy Access: Nidhi companies are typically community-based and have a local […]
Guide to Know RBI Regulations on Nidhi Finances
In the current business environment, it is essential for every small business to understand and comply with all relevant laws. The Reserve Bank of India (RBI) has introduced several measures to support the micro, small and medium enterprises (MSME) sector through compliance with certain regulations for financial monitoring, reporting and audit requirements. In this post, we look at the know your rights as a Nidhi in India if you own one. We also explore the RBI laws for Nidhi is and their businesses. Defining a Nidhi in India A eNidhi is an Indian financial institution that is regulated by the […]