Form a community savings and lending company regulated by MCA (not RBI)
Register a Nidhi Company — a type of NBFC exempt from most RBI regulations — for community-based savings and credit operations. Governed by the Nidhi Rules 2014 under the Companies Act 2013.
A Nidhi Company is classified as an NBFC but is exempt from most RBI regulations applicable to regular NBFCs — because it deals exclusively with its members. The Nidhi Rules 2014 govern its operation. A Nidhi must achieve 200 members and ₹10 lakh net owned funds within one year of incorporation.
Entrepreneurs in Tier-2 and Tier-3 cities, community leaders, and financial professionals who want to serve a defined community's savings and credit needs in a regulated, RBI-lite structure. Nidhi Companies are especially popular in Tamil Nadu, Andhra Pradesh, and Karnataka.
⚠️ Penalty for Non-Compliance
Failure to achieve 200 members and ₹10 lakh net owned funds within one year attracts action from the MCA, including restrictions on accepting deposits.
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Nidhi Company Registration
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