Nidhi Banking Solutions

Nidhi Banking Solutions

Nidhi Banking Solutions

A nidhi banking solutions 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. They are regulated by Ministry of Corporate Affairs. Reserve Bank of India empower to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these companies deal with their shareholder-members only.

Nidhi companies existed even prior to the existence of companies Act 1913. The basic concept of nidhi is “Principle of Mutuality” (“Paraspara Sahayata”). Thus they function for the common benefit advantage of all their members/share holders. These companies are more popular in South India, and 80% of Nidhi companies are locat in Tamil Nadu.

What is its significance?

  • It constitute for sole purpose of helping its members. It is forming for mutual benefit.
  • Instills the feeling of savings and thriftiness among its members.
  • The investments are secured and lucrative.
  • It doesn’t require an RBI license.

Every company should ensure the following within 1 year.

  1. Minimum members must not be less than 200.
  2. Minimum net owned fund should be at least Rs.10,00,000.
  3. The ratio between net owned funds and deposits must not be more than 1:20.
  4. No body corporate or trust must admit to it as its member.
  5. A minor should be a part of it.


  • To access our Nidhi Company Software all you need to have a reliable internet connection and a modern web browser.
  • Nidhi Company Software is very user friendly and the system has a simple graphic user interface and features a logical distribution of functions.
  • Nidhi Company Software is very user friendly and the system has a simple graphic user interface and features a logical distribution of functions.
  • Flexible and affordable pricing structure.
  • Multi-user Online web based with Multi Branch core Banking application
  • Extremely Functional and user friendly with user drivers operation
  • Attractive and well said reports format
  • Report export facility to various useful formats such as Ms Word. Ms excels. Customized and user defined reports
  • Ace reports can view on the screen and can print on printer
  • Membership Management, Operational Accounts, Term Deposits
  • Loans and Advances, Standing Instructions, Cash Transaction
  • Day book and Trial Balance, General Ledger & Financial Statements
  • M.I.S, Initialization and configuration
  • System Administration, Enrollment Fee Report
  • Application Fee Report, Late Fee Report
  • State of the art technology has used.
  • Modular design with proper integration to ensure trouble-free operations without undue complications.
  • Optimum security of operations which is very essential for financial transactions.
  • Comprehensiveness in coverage – a feature absolutely necessary to meet all requirements.
  • User-friendliness which ensures hassle free usage.
  • High flexibility with expandability and upgradability. The software can use by all societies and can easily upgraded/expanded to cover more activities whenever required.
  • Control over operations with in-built checks and balances, authorization procedures, etc.
  • Elimination of scope for tampering of data.
  • The system is designed to work for network environment to access the information & update the data by different users simultaneously.
  • The software is capable of handling huge volumes of transactions without any difficulty.