Nidhi companies are categorized as a type of Banking companies and its registration procedure is easier compared to NBFCs. In order to register that Company, license from Reserve Bank of India is not compulsory. To start a Nidhi company, at least seven people and an initial capital of Rs 5 lakh are required. Initially three directors are needed for company registration.
https://oneclickbusinesssolutions.business.blog/2022/08/09/how-nidhi-company-registration-is-essential-for-your-business-success/
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