by Audit Analyst | Sep 29, 2025 | Nidhi Company
Introduction Nidhi Firms, incorporated under Section 406 of the Companies Act, 2013 and governed by the Nidhi Rules, 2014, are community-based financial entities formed to promote thrift and provide credit among members. Since these companies operate primarily on the...
by Audit Analyst | Sep 29, 2025 | Nidhi Company
Introduction Nidhi Companies are member-driven financial institutions governed by Section 406 of the Companies Act, 2013, and the Nidhi Rules, 2014. Their primary function is to accept deposits and issue loans to members for their financial needs. While their...
by Audit Analyst | Sep 29, 2025 | Nidhi Company
Introduction A Nidhi Company, governed by Section 406 of the Companies Act, 2013 and the Nidhi Rules, 2014, operates as a mutual benefit institution where financial activities such as deposits and lending are carried out exclusively among members. To ensure...
by Audit Analyst | Sep 29, 2025 | Nidhi Company
Introduction Accounting standards are essential for maintaining consistency, reliability, and comparability in financial reporting. Nidhi Companies, though small in size compared to commercial banks or large NBFCs, operate under the regulatory framework of the...
by Audit Analyst | Sep 29, 2025 | Nidhi Company
Introduction Nidhi Companies, registered under Section 406 of the Companies Act, 2013 and governed by the Nidhi Rules, 2014, operate as mutual benefit financial institutions. They accept deposits and provide loans exclusively to their members. Given the nature of...
