INTRODUCTION OF NIDHI COMPANY
Nidhi company specially permitted by central government any company which is modified by the central government. as a nidhi company under section 620A of the companies act 1956 ( 10 f 1956)
City Mutual Benefit India Limited is a Public Company incorporated on 07 March 2014. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Kanpur. Its authorized share capital is Rs. 2,500,000 and its paid up capital is Rs. 1,000,000.It is inolved in Other FINANCIALintermediation. [This group includes financial intermediation other than that conducted by monetary institutions.]
To accept deposit from the members of the Company under saving, Deposits, Fixed deposits, Recurring Deposits and such other saving schemes that may from time to time be decided by the company . To encourage the members of the company to save money. The monies so received can be small or large sum, can be periodical or otherwise, and repayable at the end of the specified period over a period, with interest calculated at such rates as may be decided by the Company, on the amount standing to the credit of the depositors account either periodically or after a specified time.