Nidhi Company Registration in Rajasthan

Key Features of a Nidhi Company:
• Member-Centric Operations: Nidhi Companies are designed to serve only their members, accepting deposits and providing loans exclusively to them. This fosters a close-knit financial community where members support each other’s financial needs.
• Regulatory Oversight: While Nidhi Companies are registered as public companies, they enjoy certain exemptions from Reserve Bank of India (RBI) regulations, provided they adhere to the Nidhi Rules, 2014. This makes the compliance process more straightforward compared to other NBFCs.
• Encouragement of Savings: Nidhi Companies help their members build a habit of saving by offering different deposit schemes. These savings then form a fund that is used to give loans to members at affordable interest rates.
Steps to Register a Nidhi Company in Rajasthan:
1. Choose a Unique Name: Select a distinctive name for your company that complies with the naming guidelines set by the Ministry of Corporate Affairs (MCA).
2. Obtain Digital Signatures (DSC) and Director Identification Numbers (DIN): All proposed directors need to have DSCs and DINs to sign electronic documents and be officially recognized as directors.
3. Draft Memorandum and Articles of Association: Prepare these documents outlining the company’s objectives and rules, ensuring they align with the Nidhi Company’s purpose of promoting thrift and mutual assistance among members.
4. File Incorporation Forms with MCA: Submit the required forms along with the Memorandum and Articles of Association to the MCA for approval.
5. Obtain Certificate of Incorporation: Once approved, the MCA will issue this certificate, officially recognizing your Nidhi Company.
6. Apply for PAN and TAN: Get the company’s PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) from the Income Tax Department.
7. Open a Bank Account: With the incorporation documents, PAN, and TAN, open a bank account in the company’s name to manage financial transactions.
8. Commence Operations and Meet Compliance Requirements: Start your company’s operations and ensure adherence to all regulatory requirements, including maintaining a minimum of 200 members within a year and adhering to capital and deposit acceptance norms.