NIDHI Company is governed by NIDHI Rules 2014. They are incorporated in the nature of public limited company and hence they have to comply with two set of norms, one of the public limited company as per companies act 2013 and another one is for NIDHI rules 2014. No RBI approval is necessary to register the company, as RBI has specifically exempted this category of NBFC in India to comply its core provisions such as registration with RBI. Every NIDHI shall with in a period of one year from the commencement must ensure that it has not less than 200 members.
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