Nidhi is an Indian word which means 'treasure'. A nidhi company is one of the categories of non banking financial company which works through its members. Its core business is lending and borrowing money between their members. A nidhi company promotes the art of utilization and saving of funds within its member community. The companies doing nidhi businesses are known as benefit funds, mutual benefit funds, permanent fund and mutual benefit company. This type of companies is considered to be localized single office institutions. Nidhi companies cannot deal with anybody other than its members. It highly depends on honesty, integrity and loyalty of workers . It caters to the need of medium and small earning groups. A nidhi company is most secured and it includes minimum costly plan for rising resources by taking deposits from people. So we can consider a nidhi company as a public limited company which is formed with the purpose of accepting, lending, depositing money to its members.
Basically, Nidhi company has a small amount of people grouped together to help each other and grow their economic conditions. It tries to cultivate the habit of saving by accepting deposits and providing loans amongst its members. Nidhi software is created to meet nidhi company's specific needs. This software manages shares, fixed deposit (FD), recurring deposit (RD), DDS, loans etc. The system of nidhi company is difficult which is why it is impossible to manage a nidhi company without the help of well-built software. So software that handles all the operations and calculations is known as nidhi software.
After almost 16 years, now MR IT SOLUTIONs has become one of the most leading software companies in India through their hard work, loyalty and dedication. The company has branches all over India right now. We, at MR IT SOLUTIONs want to transform our clients' businesses by innovatively connecting system, processes, people and things. From digitizing traditional workplaces to today's paperless and highly personalized multichannel workplaces, we have pushed the boundaries of what technology can do for nidhi companies or any other financial institutions. Our brain storming session, innovative solutions and technologies drive smarter results for our worthy clients.
