Top 10 Nidhi Companies In India – Latest 2024

Recent news has reported that many applications for Nidhi company registration have been rejected by the Ministry of Corporate Affairs (MCA) due to non-compliance with their criteria. For those unfamiliar with Nidhi companies, they are specialized financial institutions with specific regulations. Blind investment in these companies is ill-advised. This guide provides comprehensive information on Nidhi companies, including their operations, selection criteria, and a list of the top 10 Nidhi companies in India.

Top 10 Nidhi Companies In India – Latest 2024

Table of Contents

What are Nidhi Companies in India?

In India, Nidhi Companies are private financial organizations that focus on promoting savings and thrift among their members. Also referred to as Mutual Benefit Societies, these companies operate exclusively for their members. When members need funds, they can borrow at pre-determined interest rates, while members with savings can contribute to the company and earn interest by providing loans to other members.

Nidhi Companies are governed by Section 406 of the Companies Act of 2013 and are supervised by the Ministry of Corporate Affairs. While there are many private companies in operation, some may not fully adhere to government regulations, but they often continue their operations regardless.

Top 10 Nidhi Companies In India

1. Jayant India Nidhi Limited

Jayant India Nidhi Ltd is widely recognized as the top Nidhi company in India when searching online. It maintains the highest ratings among non-banking entities, boasting over 5000 members across 21 locations nationwide. They prioritize customer satisfaction, offering competitive interest rates while strictly adhering to regulatory guidelines. Jayant India Nidhi aims to provide reliable financial assistance to middle- and lower-middle-class individuals, empowering their financial well-being. Hence it is in the list of top 10 Nidhi companies in India.

2. Samartha Nidhi Limited

Samartha Nidhi Limited, a reliable financial institution in Karnataka, provides financial assistance and support to individuals and businesses. They offer multiple schemes like Pigmy Deposit, Recurring Deposit, Fixed Deposit, and loans tailored to different needs. With a network of branches across Karnataka, they promote financial well-being by encouraging savings and responsible borrowing. Backed by MCA regulation, Samartha Nidhi Limited ensures the safety and security of your investments, making them a trustworthy choice for your financial goals.

3. Varanasi Nidhi Limited

Varanasi Nidhi Limited is a small non-banking company that meets all of the required criteria set by the Ministry of Corporate Affairs (MCA). It is known for having a loyal and satisfied customer base due to its attractive investment schemes and financial services. Although it has a relatively small paid-up capital of Rs. 5 lakhs, Varanasi Nidhi Limited operates transparently, making it a more reliable option than many unregulated mutual benefit societies.

4. Adambakkam Janopakara Saswatha Nidhi Limited

Established in 1931, Adambakkam Janopakara Saswatha Nidhi Limited (AJS) is a time-honored Nidhi company. AJS specializes in assisting low- and middle-income individuals. They provide loans to shareholders for various purposes, such as home renovations, construction, and emergencies. AJS offers competitive interest rates, making it a reliable source of financial support for events like weddings and education, as well as unexpected expenses. Hence it is also in the list of top 10 Nidhi companies in India.

5. KPB Nidhi Limited

KPB Nidhi Limited is a non-bank financial company that was founded in 1989 to provide financial support to individuals. It is a well-established and reputable Nidhi company in Kerala, with a track record of success. KPB Nidhi Ltd has grown its operations to over 83 branches across India. They have a team of experienced and friendly staff, and they are known for their reliable financial services.

6. Jbsublet India Nidhi Limited

Jbsublet India Nidhi Limited, a relatively new company founded in 2018, has quickly gained popularity in Jaipur. Despite its small authorized capital and membership, it has established trust through its sound financial policies. The company strictly follows MCA regulations, ensuring the security of your investments. Although it is a recent addition to the market, it is experiencing a surge in membership, indicating its growing presence. By investing with Jbsublet India Nidhi Limited, you can rest assured that your funds are in safe hands.

7. People’s Urban Nidhi Limited

People’s Urban Nidhi Ltd., based in Kerala, is a financial institution that specializes in helping people who have trouble accessing traditional bank loans or lack a credit history. The company’s goal is to address the fact that a large majority of individuals don’t have access to essential financial services. People’s Urban Nidhi Ltd. aims to close this gap by providing these individuals with the support and financial services they need. Hence it has been included in the top 10 Nidhi companies in India.

8. Thrissur Nidhi Limited

Thrissur Nidhi Ltd is a reputable non-banking financial company with exceptional Google ratings. Since its establishment, it has processed over 150 loans, leading to an expanding customer base of over 250 satisfied members. Thrissur Nidhi Limited continues to grow, with plans to increase its paid-up shares, underscoring its promising trajectory. Hence it is one of top 10 Nidhi companies in India.

9. Reeti India Nidhi Limited

If you require a loan for social events, construction projects, educational expenses, or business ventures, consider Reeti India Nidhi Limited. They provide loans of approximately 8 lakh rupees (around $10,000), catering to a wide range of financial requirements.

10. Mahamudra Global Nidhi Limited

Mahamudra Global Nidhi Limited is a well-established company registered under the Companies Act of 2013. It provides financial services to individuals, especially the middle class. The company offers mortgage loans, gold loans, and various deposit schemes, including savings deposits, recurring deposits, and term deposits. By providing these services, Mahamudra Global aims to encourage saving and financial responsibility among its customers. Hence it is one of the top 10 Nidhi companies in India.

Read also: RBI Guidelines for UPI Transaction Charges, Limit and Authentication 2024

How To Identify A Trusted Nidhi Company?

When identifying a trusted Nidhi company, you should consider these key points:

  • Minimum Capital: Ensure the minimum paid-up share capital is over 5 lakhs for financial stability.
  • No Preference Shares: Confirm no preference shares for specific members to promote equality.
  • Membership Eligibility: Check that trusts or corporate entities cannot be members.
  • Membership Strength: Opt for a Nidhi company with a higher number of members for credibility.
  • Avoid Chit Funds: Ensure the company doesn’t engage in Chit funds to comply with regulations.
  • No External Lending/Borrowing: Verify the company doesn’t lend or borrow from non-members.
  • No Brokerage/Incentive Schemes: Confirm no brokerage or incentive schemes for members to maintain fairness.
  • Protect Members’ Funds: Check that the company does not pledge members’ funds for added security.

By considering these factors, you can choose a reliable Nidhi company, reducing the risk of fraud or unreliable practices.


Now that you have a clear understanding of the characteristics of a reputable Nidhi company, you can use the provided list of the top 10 Nidhi Companies in India to simplify your search. This list can assist you in identifying well-established and trustworthy Nidhi companies in your area.

Frequently Asked Questions (FAQ)

Nidhi companies in India are governed by the Reserve Bank of India (RBI). The RBI determines their eligibility requirements, capital needs, and net-owned funds. To maintain compliance, the RBI conducts audits, requires reserve funds, and promotes transparency among Nidhi companies.

As per the Companies Act of 1956, around 390 companies in India have been officially recognized as Nidhi companies.

While Nidhi Finance Banks and Non-Banking Financial Companies (NBFCs) both engage in financial services, they have distinct characteristics. Nidhis prioritize the benefit of their members, primarily by encouraging savings and providing financial support within their community.

It is impossible for a Nidhi Company in India to convert into a Non-Banking Financial Company (NBFC) or bank. This is not feasible or advantageous for Nidhi Companies.

“Nidhi,” refers to the practice of saving and sharing resources among members. These companies were created specifically to enable members to lend and borrow money from each other for mutual benefit, and they existed even before the Indian government established the Companies Act of 2013.

Yes, Nidhi Companies are legal in India. They are recognized under the Companies Act, 2013 (Section 406), supervised by the Ministry of Corporate Affairs, and regulated by the Nidhi Rules, 2014. Private limited Nidhi Companies can operate legally without requiring approval from the Reserve Bank of India (RBI).

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