Do you want to start a finance/loan business in India? Then you are at right stage because Nidhi Company is the most easy and affordable way to start loan business in India. It only requires 7 person with easy documents requirement to start the Nidhi Company. The minimum capital requirement for Nidhi Company registration is Rs. 10 Lakh.

Necessary to file NDH-4 form within 120 days of Incorporation to declare the company as Nidhi company by making Net owned fund to Rs. 20 Lakh and Minimum 200 Members in company.

Nidhi Company can only do business of accepting deposit and lending money to its members only. It cannot deal with the public directly and can only work with its members. However, one can easily make members under Nidhi Company with few documents and easy process. Also, Nidhi Company registration is the only form of company available to start the loan company in India without RBI approval.

Nidhi Company can open three branches after three years of working within the district. Further, to open any branch outside the district, the company shall require RD approval. Furthermore, the Nidhi Company cannot work outside the state. Hence, if you want to expand your business to another state, then you will need to register another Nidhi Company.

Also, mylegalbook.com is specialized company for registering and managing Nidhi Companies in India and manages hundreds of companies across India. We have a top consulting company for starting and managing business in India.