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Nidhi Company Software

The Nidhi programme is designed to help businesses manage their money, monitor their performance, and grow their operations.The software from Nidhi is inexpensive and simple to use, making it a great option for companies of all sizes.

Multi State Cooperative Society Software

The Co-operative Society Software is a Mini-Banking Management Software that controls loans, fixed deposits, recurring deposits, monthly income plans, and savings accounts.

Microfinance Software

Our Next-Generation Microfinance Software, which was created using the most cutting-edge technology stack, enables MFIs to help their clients succeed, grow their companies, and strengthen developing nations' economy.

NBFC Software

NBFC software is necessary to keep track of the data because the functioning of NBFC organisations, also known as Non-Banking Financial Institutions, involves financial transactions. This NBFC software's objective is to raise an organization's productivity.

About Us

Bankoftware provides a complete solution to landline and Fintech organisations using cutting-edge technologies. We have 12 years of experience in this field. We have consulting professionals available at all times to assist you and walk you through the registration process. With more than 60 individuals, including CS, CA, lawyers, and IT specialists, Banksoftware is a great team.


Got software service from him. Its a excellent working experience. staff is very polite and educated. I must suggest suggest everyone to take service from them only.
Good work is done here regarding software, registration, compliance and Kalpna mam so caring for our clients
kajal thakur
kajal thakur
It was a great experience to work with onick experts. staff was very polite, responsive, and professional, overall I am very happy to work with onick experts and also willing to work with them. Thanks a lot to onick experts
sakshi sakshi
sakshi sakshi
Excellent services, supportive team,
Ruby Dubey
Ruby Dubey
Excellent followup and ownership of onick experts. Team is very polite or highly qualified. Amazing software they are provided.
rajput priya
rajput priya
advisor 2578
advisor 2578
Best consulting firm. Best software solution good service providers. Especially Sunita mam very talented consultant ever. Good experiences with them.
vimal singh
vimal singh
Wonderful experience with there software. My work became very easy after using Nidhi software. Great job of all team. Well done.
sakshi sharma
sakshi sharma
Thank you for helping in registration of nbfc company. Right guidance. Thanks taxhint, thank onickexperts. Doing great job. Finding a genuine and qualified consultant is difficult these days when everyone is running about money. Recommended services. RBI approval was very smooth due to good planning, suggestions and guidance of Amna ji and Sunita Ji.
Radhika chawla
Radhika chawla
Best place to start your fintech business. Specialized solutionsb taxhint group.

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Multistate Society Registration

In Just 3 Months
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  • Register Your Business Anywhere in India
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Nidhi Company Registration

In Just 15 Days
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  • Register Your Business Anywhere In India
  • Dedicated CA/CS Available

Microfinance Company Registration

InJust 2 Months
  • 100% Online
  • Register Your Buisness Anywhere In India
  • Dedicated CA/CS Available

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What is Nidhi Company?

A Nidhi Company is a Company which carries on the business of accepting deposits and lending the same on demand. Nidhi Company is similar to NBFC but the only basic difference between the two is that Nidhi Companies accept deposits only from its members. The main aim of these companies is to work for the mutual benefit of its members. These companies are not entitled to carry on the business of Hire Purchase Financing, Insurance, Chit Funds and Acquisition of securities or Issue of any Debt Instruments.

What is Minimum Number of Member required for nidhi company Registration?

A minimum of three directors and seven shareholders are needed for incorporating a Nidhi Company.

Can a Minor Become the member or Director od Nidhi Company?

No, a minor is not allowed to become director of a Nidhi Company. Only a person who is a minimum of 18 years old can become the Director of a Nidhi Company.

What is Maximum Number of Member can be in Nidhi Company?

No, there is no upper limit prescribed for the maximum number of members. However, it is mandatory for a Nidhi Company must have a minimum of two hundred members by the end of the 1st financial year.

Can Nidhi Company take deposits from a non-member?

No, all the financial transactions have to be made only between the shareholders of the company.

Can a Nidhi Company do microfinance business?

No, Nidhi Company is not allowed to do microfinance business in India. These are because micro finance is a completely different set of business for an NBFC and require more capital to do the same. Hence, Nidhi Company cannot engage itself into micro finance business. Further, since Nidhi Company raise fund from deposits and hence, if it passes the same to member without any security, then there will be great chances of customer default which will ultimately results into bankruptcy of the Nidhi Company.

How many branches a Nidhi Company can open?

A Nidhi Company can open up to 3 branches after three years of continuous profit running of the business. Further, these three branches can be opened within the district only. Further, to open any branch outside the district, you will require the Regional Director (RD) permission. Also, a Nidhi Company cannot open a branch outside the state.

Are the Deposits with Nidhi Company safe and secured?

Yes, the Deposits with such companies are safe and secure because the Ministry of Corporate Affairs and Reserve Bank of India has framed rules and regulations to ensure the safety and security of Deposits. And the Nidhi Company compulsorily abide by the rules of Central Government.

Who can become the shareholder/member of Nidhi Company?

Any person who is above 18 years of age as per the standard age proof can become a member of the Nidhi Companies. The person desirous of becoming a member should have valid ID Proof and Address Proof.

On what condition Nidhi Company can provide a loan to its members?

Nidhi can provide loans to its members only after the members have given/ provided some securities like gold, silver jewelry or any type of financial securities against the loan.

Is it to use the word “Nidhi limited” in the name of the company?

Yes, it is necessary to use the word “Nidhi Limited” in the name of the company. However, the term “Mutual Benefit” can also be used.

Who is Regulating Authority for Nidhi Company?

The regulations passed by the Ministry of Corporate Affairs and the provision of Nidhi Rules, 2014 act as the regulating authority for Nidhi Company.

What is the validity of certificate of incorporation?

A Certificate of Incorporation has lifetime validity, or till the time the company’s name is not struck off by the ROC (Registrar of Companies).

Can a Nidhi company provide unsecured loans?

No, Nidhi Company is not qualified to issue unsecured loans. However, it can issue Secured Loans to its shareholders or members.

Can microfinance operate in villages?

For those who reside in far-flung villages around the nation, microfinance is an alternative to banking.

Can a Nidhi company operate in more than one state?

No, a Nidhi Company is not allowed to operate outside the state in which it is registered.

How many microfinance companies are in India?

The microfinance sector in India has more than 3000 MGIs, NGOs, and NGO-MFIs spread out over the country.

How many types of microfinance companies are there?

The different types of institutions that provide microfinance in India are Commercial banks. Credit unions. Non-governmental organizations (NGOs).

What is group loan microfinance?

Any selected customer group may be granted a loan to use as startup money for their microbusiness or other income-generating ventures in an effort to improve their standard of living.

Can microfinance provide personal loans?

Microfinance can give women to increase their income generation, loans for homegrown entrepreneurs, emergency medical loans, home improvement loans, and home extensions/ business improvement loans.

What type of services can a microfinance company provide?

The services provided by banks are supplemented by microfinance organizations. Financial services like insurance, savings, and remittance are additionally offered in addition to microcredit.

Is group lending allowed in microfinance?

Yes, it is allowed.

How much investment is required to register a microfinance company?

A private business must have a minimum of two members and a capital of Rs 1 lakh. A public business must have a minimum of 7 members. Raise money: Raising the necessary minimum net owned funds of Rs. 5 crore is the next phase.

What are the eligibility requirements to provide a loan under a microfinance company?

He should not have a history of defaulting in any organization. He must meet the qualifying requirements set forth by the Reserve Bank of India (RBI) and the Microfinance Institutions Network (MFIN), including total debt, annual household income, and other requirements.

Explain microfinance services.

Microfinance is a banking service that gives unemployed or low-income people or groups access to financial services that they would not otherwise have. People can obtain acceptable small business loans through microfinance in a secure manner that adheres to moral lending principles.

What are the examples of microfinance companies?

Equitas Small Finance, ESAF Microfinance and Investments (P) Ltd, Fusion Microfinance Pvt Ltd, Annapurna Microfinance Pvt Ltd, and Arohan Financial Services Limited are some examples of the microfinance company.

What is microfinance software ?

A contemporary method used to assist microfinance organisations in expanding their digital operations is microfinance software. In order to help the customer save time and money, it offers intelligent banking capabilities at the lowest possible cost.

What does a multi-state cooperative society mean?

The multi-State Cooperative Societies Bill was introduced in the Parliament in order to accomplish the goal of creating co-operatives in more than one State. The bill sought to codify and amend the law relating to cooperative societies, with objects not limited to one State and serving the interests of members from multiple states.

How many branches can a Nidhi Company open in a District?

A Nidhi Company is allowed to open only three branches within a district. However, to open more than three branches, the said Company is must seek prior approval of the RD (Regional Director) for every additional branch.

Is a multi-state cooperative society safe?

Yes, It is safe if it meets all the requirements with RBI.

What are the top 10 multi-state societies in India?

1 The Jackson Co-operative Credit Society of the Employees of the Western Railway Ltd.

2 Karur Vysya Bank Staff Coop Thrift & Credit Society Ltd

3 South India Multi-State Agriculture Cooperative Society Ltd.

4 Adarsh Cooperative Bank Ltd./Madhav nagrik Sahakari Bank Ltd.

5 LDC Multi-State Cooperative Credit Society Ltd.

6 The Sutex Cooperative Bank Ltd

7 Malankara Multi-State Cooperative Credit Society Ltd

8 Dhanmudra Urban Multi-state Co-operative Credit Society Ltd

9 The Vishweshwar Sahakari Bank Ltd

10 Krishi sansaar multi-state cooperative society ltd.

When was the multi-state cooperative society act passed?

3rd July 2002

What are the examples of multi-state cooperative societies?

Credit, Housing, Agriculture, Transport, Hospital, Sugar, Stores, Fishery, Handloom, Labor, Consumer, and Multi-Purpose cooperative societies are some of the several types of multi-state cooperative societies. There might be more than 50 members, but each additional state needs to have at least 50 members.

What is a multi-state agro-cooperative society?

The multi-State Cooperative Societies Bill was introduced in the Parliament in order to accomplish the goal of creating co-operatives in more than one State. The bill sought to codify and amend the law relating to cooperative societies, with objects not limited to one State and serving the interests of members from multiple states.

How can I do multi-state cooperative society limited registration online?

You can go to It is the best financial consulting firm for company registrations.

How does Nidhi Bank Work?

A Nidhi Company is a company that carries on the business of accepting deposits and lending the same on demand. Nidhi Company is similar to NBFC, but the only basic difference is that Nidhi Companies accept deposits only from its members.

Which consultant company for NBFC registration is best?

Onick Experts

Does NBFC provide loans online?

Yes, It provides loans online.

Does NBFC provide personal loans?

Yes, it provides a personal loan.


A non-banking financial company (NBFC) is a business registered under the Companies Act of 1956 that engages in the business of loans and advances, the acquisition of shares/stocks/bonds/debentures/securities issued by the government or a local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, and chit business

How much capital is required for NBFC?

25 lakhs.

What is Gold NBFC?

NBFC can provide loans against the collateral of gold jewelry.

Does NBFC give a fixed deposit facility?

Yes, it gives you a fixed deposit facility like a bank.

What is Agri Finance NBFC?

Agri-financing enables farmers and other participants in the agricultural value chain to safely store their harvest while simultaneously obtaining funding against collateral.

Is NBFC safe?

Yes, it is safe if it is registered under RBI's guidelines and complies with all its rules.

When is NBFC registration with RBI required?

When a company's financial assets make up more than 50% of its total assets and its revenue from financial assets makes up more than 50% of its gross income, it is considered to be engaged in financial activity. A business that satisfies both requirements will be registered as an NBFC by RBI.