Question

Refer to the following information to answer the next 4 questions (Q9 to Q12) Nidhi Company is an NBFC (Non-Banking Financial Company). Nidhi in simple terms means a company which is formed with the object of cultivating the habit of thrift and savings. These are regulated entities and the rules and directions governing Nidhi Companies are issued from time to time. The formation of the Nidhi Company is very easy process. It requires only ____ members out of which 3 members would be the directors. The Nidhi company takes hardly 10-5 days to get registered. Also no. of the documents required for the registration are very less.

Consider the following statements and state which among

Q: Consider the following statements and state which among the following are the correct statements for

NidhiCompanyisanNBFCNonBankingFinancialCompanyNidhiinsimpletermsmeansacompanywhichisformedwiththeobjectofcultivatingthehabitofthriftandsavingsamongstthemembersandreceivingdepositsfromandlendingtothemembersfortheirmutualbenefitsOnlyindividualmembersareallowedinNidhicompaniesanditcannotgiveloanstocompaniesThesearegovernedbytheNidhiRules2014issuedbytheMinistryofCorporateAffairsNidhiCompanythoughitisafinancecompanyandfallsunderthecategoryofNBFCdoesnotrequireapprovalofRBINidhiCompanydoesnotrequiretoobtainalicencefromRBIThoughtheNidhiCompaniesarefreefromthestrictcomplianceoftheRBIregulationstheirdepositacceptanceoperationsaregovernedbytheRBI

the following are the correct statements for Nidhi companies? A. Nidhi companies can borrow from and lend to, its members only B. Nidhi companies follow the Nidhi Rules 2014 issued by the RBI C. Nidhi companies are registered with RBI as NBFCs

A Only A

B Only A and B

C Only B and C

D Only A and C

E All of the above

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Question

Consider the following statements and state which among

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