Benefits Of Nidhi Software For Nidhi Companies

INTRODUCTION 

Nidhi companies are non-banking finance companies whose business is mainly borrowing and lending between its members, they are also known by different names like permanent fund, benefits fund, mutual benefits funds and mutual benefit company. They are recognized under section 406 of the company’s act 2013 and regulated by the ministry of corporate affairs who gives directions when needed regarding their deposit and acceptance activities. The main objective of NIDHI COMPANY is to develop the habit of savings among its members and this is the main reason for its creation. Although it is legal and can gain, own or enjoy the property in their name there is no RBI license required for establishing it. 

NIDHI SOFTWARE 

Nidhi company software is user-friendly software which mainly helps NIDHI companies to carry out all types of NIDHI activities that too with ease. NIDHI software is used for managing all kinds of activities from managing member activities, deposit account activity, term deposit account activity or loan activity. One great advantage of NIDHI Company is that you can do multiple things from one software. It is used all across INDIA quite successfully and it is simply the best software to manage all kinds of NIDHI activities. 

BENEFITS OF NIDHI CBS SOFTWARE 

So far we have got an idea of NIDHI Company and NIDHI company software, now let us see what are the benefits or advantages of NIDHI company software. 

1.           ONLINE WEB BASED: This software is an online web-based which means it can be accessed and used by multiple people at the same time, it is possible with its multi-branch core banking application for multi-users. 

2.           IN BUILT CHECKS AND BALANCES: It is a unique feature of this software as it is used by all members through different panels online there is a need to monitor their activities but with a built check and balance system there is no such need at all. Operations are very much controlled through it. 

3.           SOFTWARE IS CUSTOMIZED: Nidhi CBS software is made only for NIDHI companies and it is truly customized as per the needs of NIDHI companies. Online NIDHI Software can be used by all members through different panels; this feature is simply customized for considering NIDHI Company only. 

4.           PERFECTLY FORMULATED REPORTS: As per the rules all NIDHI Companies Have To Maintain Annual Reports, Reports Generated by NIDHI CBS SOFTWARE Are So Well Said That They Don’T Need Any Manual Alteration. Online NIDHI Software Delivers Reports to All the Users and All Members Have Access to These Reports as they are available online. 

5.           MULTI LANGUAGE PRINTING OPTION: NIDHI CBS SOFTWARE has the feature that all the prints can be taken out in multi-languages. Which is an added advantage as at times different members know different languages? So this is very much advantage of NIDHI SOFTWARE. 

6.           OPERATIONAL ACCOUNTS: Online NIDHI software gives the option of multi-users and they are operational accounts, members can use these ids for registering new members and all other activities.