A nidhi company is a type of company in the Indian non-banking finance sector,
recognized under section 406 of the Companies Act, 2013.Their core business is
borrowing and lending money between their members.They are also known as Permanent
Fund, Benefit Funds, Quasi Bank, Mutual Benefit Funds and Mutual Benefit Company.
They are regulated by Ministry of Corporate Affairs, which is also empowered to
issue directions to them in matters relating to their deposit acceptance activities.
However, in recognition of the fact that these companies deal with their shareholder-members only.
Nidhi means a company which has been incorporated with the object of developing the habit of
thrift and reserve funds amongst its members and also receiving deposits and lending to its
members only for their mutual benefit.
One of the best official in the banking industry who are established the Arthyojan. Directors of Arthyojan have created this company to help the people who are in the need of money and also for those people who want to grow their wealth with safety. Arthyojan gives extra interest rate on fixed deposit and recurring deposit who are more than 58 year aged, Retired official or taken VRS from army/defence/police force, widow and Physically challanged person.
