Nidhi Companies are registered Limited Companies involved in taking deposits and lending to its members. The activities of a Nidhi Company does fall under the purview of Reserve Bank of India, as it is similar to a NBFC. Hence, we can say Nidhi Company is a Non-Banking Financial Company (NBFC) which does not require any license from the RBI. It is ideal for Lending and Borrowing amongst Members. Nidhi Companies cannot deal with anybody other than its members.Companies Act 2013 and Nidhi Rules 2014 are the governing bodies regulating the functions and operations of Nidhi Company in India.
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