A Nidhi Company is a unique type of Non-Banking Financial Company (NBFC) in India, recognized under Section 406 of the Companies Act, 2013. Operating purely on the "Principle of Mutuality," its core objective is to cultivate the habit of thrift and savings among its members. A Nidhi Company is permitted to borrow and lend money exclusively to its shareholder-members, making it a highly localized, self-governing financial community that requires minimal regulatory intervention from the Reserve Bank of India (RBI).
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