Reasons For Having A Website For Your Nidhi Company

Nidhi companies are mutual benefit societies, which allow people to join as members and do business among them only. Most Nidhi companies consolidated fund comes from contributions from its members. Nidhi companies are those companies which are registered by section 406 of the companies’ act 2013. Transactions happen between members only, as they are obliged to do business under the Nidhi rules 2014 and the companies’ act 2013. Ultimate authority over Nidhi Company lies with the Ministry of corporate affairs (MCA) and RBI can assist MCA in giving orders. 

The main objective of the Nidhi Company is to promote savings among its members, it helps middle-class families and lower-middle-class families set aside manageable sums of money for savings. Members have several advantages as they loan at a very low-interest rate. Also, Nidhi companies usually have a very secure environment as far as investment is concerned. 

To register as a Nidhi company there is certain conditions that you must comply with; Nidhi Company can be started with a minimum paid-up equity share capital of at least five lakh. Also, you need at least seven members out of which three have to be a board of directors. Although they are not allowed to distribute preference shares in any form, this company has only one objective which is to inspire financial responsibility among its members by taking deposits from them and also disbursing loans to them only whenever they require. 

Operations in Nidhi company are managed with the help of software known as Nidhi Software, it is a web-based software which allows multi-users. Nidhi software is used by most Nidhi companies in India for their smooth operations. Nidhi software for the cloud helps in various ways, as it is web-based there is complete transparency. Also, Nidhi Software For Cloud is web-based software which means all members can log in and check all the activities which gives them confidence in their investment in Nidhi company. 

REASONS WHY NIDHI COMPANY SHOULD HAVE A WEBSITE 

So far we have discussed various aspects related to Nidhi companies; Nidhi companies should have a website of their own. 

1. IT WOULD HELP YOU TO SHAPE IN FUTURE: Although registration of Nidhi Company is fairly easy, all you need is seven members and a sum of five lakh rupees to start with. The registration process is very brief only a few papers are required but you have to comply as per Nidhi rules 2014, So starting is easy but what about the future road map and how to move ahead. well, this is where having a website would help you.
2. TO CREATE TRUST: Not only the registration is easy but there is no requirement of licenses from the RBI to start your Nidhi company as these things make the registration easier but at times there is some lack of trust also with people regarding Nidhi companies, to establish trust one must have a website with maximum details about the company, phone numbers, addresses and full detail of its members, this way you can build some sort of trust.
3. TO GIVE IT SOME BRAND VALUE: Almost all businesses these days have a website, which builds a brand value for them. The same is true for Nidhi Company; make sure that you have an impressive website.