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Nidhi Company

You can think that Nidhi Company and Chit Funds are interchangeable if we compare them. However, their divergent modes of operation were what set them apart.
Nidhi Company tries to launch a business with less capital than NBFC Company, which needs significant capital investment. In India, NBFC companies and Nidhi companies operate on different scales, depending on their needs. By choosing Nidhi Company, one may undoubtedly benefit from many benefits. In this blog post, you will get to learn about the nuances concerning the Difference Between NBFC and Nidhi Company.
Nidhi Company is defined under Section 406 and Section 620A of Companies Act 2013. One must strictly adhere to the Nidhi compliances if one fails to meet its compliances heavy penalties will be levied. As per the Companies Act, 2013 Nidhi Company is a non-banking financial entity. Its function is borrowing and lending money among its members.

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