The Nidhis are a type of non-banking finance companies (NBFCs) where a borrower would have to become a member first. In which state Nidhis are peculiar in India?
Q. The Nidhis are a type of non-banking finance companies (NBFCs) where a borrower would have to become a member first. In which state Nidhis are peculiar in India?
Answer: Tamil nadu
Notes: A Nidhi company is a type of company registered under the section 406 of the Companies Act, 2013. Their principal business is to borrower and lend funds among their members. The basic concept of Nidhi is "Principle of Mutuality". These companies are more popular in South India, and 80% of Nidhi companies are located in Tamil Nadu.

 

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