Nidhi Company Registration in Jaipur: A Complete Guide

Introduction to Nidhi Company

A Nidhi Company is a type of Non-Banking Financial Company (NBFC) that focuses on encouraging savings and lending among its members. Governed by Nidhi Rules, 2014, under the Companies Act, 2013, these companies work as self-help financial institutions, promoting the habit of thrift among their members.

Benefits of a Nidhi Company:

• No RBI approval required, making the registration process simple.
• Lower compliance burden compared to other NBFCs.
• Safe and secure business model.
• Encourages small-scale savings and financial inclusion.

Why Start a Nidhi Company in Jaipur?

Jaipur, the capital of Rajasthan, is a growing economic hub with a strong financial and business ecosystem. Here’s why it’s a great place to start a Nidhi Company:

1. Growing Financial Sector

Jaipur has seen rapid growth in banking, finance, and investment sectors, making it a favorable location for financial institutions.

2. Supportive Government Policies

The Rajasthan government promotes small-scale financial institutions, making it easier to set up and operate a Nidhi Company.

3. Business Opportunities in Jaipur

With a large population engaged in trade, business, and tourism, Jaipur provides a ready market for financial services.

Eligibility Criteria for Nidhi Company Registration

To register a Nidhi Company in Jaipur, you must fulfill these basic criteria:

1. Minimum Requirements

• At least 7 members (out of which 3 should be directors).
• Minimum paid-up equity capital of ₹10 lakhs.
• The name should include “Nidhi Limited.”

2. Capital and Member Requirements

• Within 1 year of incorporation, the company must have 200 members.
• Net owned funds should be at least ₹10 lakhs.

3. Restrictions on Business Activities

• Nidhi Companies cannot deal with non-members.
• Cannot engage in chit funds, leasing, insurance, or securities business.
• Cannot accept deposits from or lend to non-members.

Documents Required for Nidhi Company Registration

To register a Nidhi Company in Jaipur, you need the following documents:

For Directors and Members:

✔ PAN Card
✔ Aadhaar Card
✔ Passport-size photos
✔ Address proof (Voter ID/Passport/Driving License)

For Registered Office:

✔ Rent agreement (if rented)
✔ Electricity bill
✔ NOC from the property owner

Step-by-Step Registration Process

1. Name Approval (RUN Form)

• Choose a unique name with the suffix “Nidhi Limited.”
• Apply for name approval through the MCA portal.

2. Digital Signature Certificate (DSC) and Director Identification Number (DIN)

• Obtain DSC and DIN for directors.

3. Drafting Memorandum and Articles of Association (MOA & AOA)

• MOA defines business objectives.
• AOA outlines internal management policies.

4. Incorporation Filing with MCA

• Submit the SPICe+ form online with required documents.
• MCA verifies and issues the Certificate of Incorporation (COI).

5. PAN & TAN Application

• Apply for PAN and TAN through the NSDL website.

6. Opening a Bank Account

• Open a corporate bank account for transactions.

Post-Registration Compliance for a Nidhi Company

Once registered, the company must:
✔ Add 200 members within 1 year.
✔ Maintain Net Owned Funds (NOF) ratio of 1:20.
✔ File annual returns with MCA.

Rules & Regulations for Nidhi Companies

• Cannot engage in advertising for deposits.
• Loans are provided only against gold, fixed deposits, and government securities.
• Deposits should not exceed 20 times the net owned funds.

Cost of Nidhi Company Registration in Jaipur

Conclusion

Starting a Nidhi Company in Jaipur is a profitable and secure financial business model. It promotes small-scale savings, easy credit availability, and financial self-sufficiency. If you’re looking for a low-risk financial venture, Nidhi Company registration in Jaipur is a great option.

FAQs

❓ Can a Nidhi Company operate in multiple states?
No, a Nidhi Company can operate only in one state.

❓ What is the penalty for non-compliance?
Non-compliance may lead to penalties and cancellation of registration.

❓ How much capital is required for a Nidhi Company?
A minimum capital of ₹10 lakhs is required.

❓ Can Nidhi Companies offer loans to non-members?
No, they can only provide loans to their registered members.

❓ What is the maximum loan limit a Nidhi Company can provide?
Loans are limited to 20 times the net owned funds.