Nidhi finance companies are a dime a dozen in India. Do you know how they work? What their objectives are? Here, we will explore all you need to know about it. Nidhi companies are credit cooperatives that provide small loans to members without taking any collateral. They use a savings-linked deposit system where members contribute to a common pool of funds from which loans are given out. Nidhi companies usually have two different kinds of products: short-term and long-term loans. Short-term loans are generally for smaller amounts and have a tenure of up to one year, while long-term loans can go up to five years. https://bit.ly/3VFe9Dy
