According to Reserve Bank of India or as per the Companies Act, 2013 or previous Companies Act, 1956, there is no requirement for obtaining permission from RBI for a Nidhi Company registration. These companies are public companies registered under Companies Act, 2013 or previous Companies Act, 1956. Therefore, there must have at least 7 members and 3 directors. Earlier, the minimum capital requirement for registering a Nidhi Company was INR 5 lacs, which were subsequently waived off by Ministry of Corporate Affairs (MCA), but, the Nidhi Rules, 2014, mandates the infusion of INR 10 lacs capital into such companies. So, it is advised to register a Nidhi company with such capital.
However, you can still register a Nidhi company with Rs. 5 Lac capitals and in a year time, you can increase your capital to Rs. 10 Lac and 200 members. if you wish to apply for Nidhi company registration then you need to apply to MCA. We must know that Nidhi company registration procedure is more similar tocontinue reading