Section 8 Micro finance Company or Micro-finance Institution (MFI) is a financial organization that provides credit to people and organizations who are denied access to traditional financial institutions due to poverty, occupation, ethnicity, religion, or nationality. A Microfinance Company is registered with the Registrar of Companies as per Section 8 of the Indian Companies Act, […]
Nidhi Company can’t deal with chit funds, hire-purchase finance, leasing finance, insurance, or securities business. It is strictly prohibited from accepting deposits from or lending funds to, any other person except members. Number of Members A minimum of seven members is required to start a Nidhi Company out of which three members must be the […]
The dealings of Nidhi Company are restricted to its members only i.e. borrowing from the members and lending to back to them only and hence regarded as the mutual benefit society. Nidhi Companies provides loans at less rates comparatively than Banks. Nidhi Company Registration Nidhi Companies are incorporated as Public Limited Companies with at least 3 […]
A Microfinance company is usually called Micro Credit Organization which deals in common loans. It is less than Rs. 50000 to different small companies and households that have no access to banking channels or not eligible to get loans. At One Click Business Solutions Private Limited, we have an energetic team of professionals to take […]
The Ministry of company affairs (MCA) has just lately revised the compliance norms for Nidhi Company. The Ministry has additionally suggested the buyers to confirm the standing of a Nidhi firm from the notification issued by the Centre within the official gazette earlier than making any funding or deposit. What’s a Nidhi Firm? The phrase […]