A Nidhi Company is a type of company in the Indian non-banking financial sector recognized under Section 406 of the Companies Act, 2013, whose core business is borrowing and lending between its members.
Nidhi Company is also known as Permanent Fund, Benefit Fund, Quasi-Bank, Mutual Benefit Fund, and Mutual Benefit Company.
They are a type of non-banking financial company (NBFC) in India.
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