“Nidhi Company Award and Summit 2019” with the theme “Future of Nidhi Company” seeks to provide a platform for industry stakeholders to work out a road map for unleashing the true potential of the sector. The discussions at the forum would focus on the ongoing changes including the evolution in the Finance Industry, Consumer values, Technological disruptions, Digitization etc... with a view to understand the influence of these developments on business and explore the need for operations excellence; new products and a pool of next gen leaders to sustain high growth in the present changing financial environment.
Transformation is the main focus of the Nidhi Company in India. With evolving & demanding needs of customers, insurers have been deriving growth mainly through improvising on product offerings as per people’s aspirations, adopting vibrant distribution channels and reaching out to potential customers through targeted promotional activities. Growing middle class, expanding working age population and increasing disposable income levels in the country are some of the factors that are expected to propel the growth of the industry in coming years. Moreover, government of India’s initiatives towards attaining financial inclusion and accommodating regulatory regime will further offer necessary support to this growth
Nidhi Company Registration
A nidhi company, is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company.
The company needs to have a minimum of 7 Member. Out of these, there need to be a minimum of 3 directors.