Do you realize that, under subsection 406 in the Companies Act, 2013, Nidhi firms are virtually lawful in India and are doing good work? What exactly do they do? These companies are able to offer financial assistance to those who are unable to access traditional banks due to some reason. In the end, Nidhi companies are more similar to traditional banks, but they operate on a smaller scale. If you’re fascinated by these businesses and would like to find out which are the best Nidhi companies in India. Keep following because we’re here to discuss the top 10 best Nidhi businesses in India in 2024. Okay, let’s get started right now.

1. Maben Nidhi Limited

It was established in 1993, Maben Nidhi Limited has become a major actor in India’s financial industry in the form of an Nidhi company. It is the Government of India has formally acknowledged Maben Nidhi Limited as a Nidhi Company, as it was registered under section 620A, the Indian Companies Act of 1956 Did you have that information? You can be able to guess, Maben is an organization that has 64 branches, whose main purpose is to inspire its members to make savings. Maben is renowned for its secure and customer-focused financial services, including gold loans, property loans and various deposit plans. A key indicator of Maben Nidhi Limited’s conformity with the regulations is that it holds the NDH 4 certification by the Ministry of Corporate Affairs.

• Address:FIRST FLOOR, PADMA JUNCTION, NEAR GEERI PAI JEWELLERY,MG ROAD OPP METRO PILLER NO 666, COCHIN, Kerala 682035

2. KPB Nidhi Limited

The company’s history spans from 1989. KPB Nidhi Limited is well-known for its reliable services and extensive network of contacts. This is the reason we’ve placed the company as 2nd on our list of today’s. The Kerala-based company has expanded to 83 branches across the nation, demonstrating its commitment to providing its members with financial aid. KPB Nidhi Limited caters to the middle-class and low-class by offering them individualized banking services and products such as loans, savings programs as well as fixed deposit.

• Address: Kallarkutty Dam Rd, above Kannattu Super Market, Adimali, Kerala 685561

3. Jayant India Nidhi Limited

The third position on this list, having twenty-one branches and a total of five thousand customers throughout the country, Jayant India Nidhi Limited is among the top non-banking financial institutions across the nation. Why is that and what is the reason? It is because Jayant India follows the regulations established in the Ministry of Corporate Affairs to the letter. The firm is known for its customer-focused service and low interest rates. In all, by providing reliable and honest financial assistance and services to the middle class and the lower middle class, offering a wide range of loan and deposit options.

• Address: SCO-88, 2nd Floor, Opp. BSNL, Old Delhi Gurgaon Rd, Sector 12A, Gurugram, Haryana 122001

4. Adambakkam Janopakara Saswatha Nidhi Limited (AJS)

Adambakkam Janopakara Saswatha Nidhi Limited or AJS for short, is among the oldest Nidhi companies in India that was founded in 1931. They are one year short of reaching the 100-year milestone in the financial sector. Due to its long-standing tradition of providing financial assistance to those who are excluded, AJS focuses on helping those who have middle-class or lower-class incomes. The company offers loans for home improvement as well as school expenses and unexpected circumstances are offered by this trustworthy company, with low rates of interest.

• Address: 107, Pudupet St, Ramapuram, Alandur, Chennai, Tamil Nadu 600016

5. Jbsublet India Nidhi Limited

In this list, Jbsublet India Nidhi Limited is the most recent company, however, they appear on the list, even since it was founded several years ago in the year 2018 to be exact. Now, if you take a look and they’re in the top 10 list of top 10 most influential Nidhi companies in India by 2024. Isn’t it something? Also their financial strategies and strict adhering to MCA standards have helped them gain trust, despite its small size.

• Address:12, C Scheme, Ashok Nagar, Jaipur, Rajasthan 302001

6. Mahamudra Global Nidhi Limited

Sixth place in the list is Mahamudra Global Nidhi Limited, an Indian firm that was created in the Companies Act of 2013, and has been able to establish itself as an important pillar of the middle class in India. It’s true that it sounds like a cliché however, that’s exactly what they’re doing after all. Gold loans, mortgage loans, and a range of deposit plans (savings or recurring deposits, as well as time deposits) are only a few of the numerous financial services provided by the famous Nidhi company in the nation.

• Address:TOWERS,PLOT NO.A, UNIT NO. 503, 5th FLOOR GDITL NORTH Ex, 09, Netaji Subhash Place, Pitampura, Delhi, 110034

7. Samartha Nidhi Limited

Another Karnataka-based business called Samartha Nidhi Limited is notable for its efforts to assist individuals and small business owners that are facing financial challenges. Like the other companies listed in this listing, the company is also out to encourage financial inclusion by offering various deposit options that include Pigmy Deposit, Recurring Deposit along with Fixed Deposit, in addition to a variety of loan options.

• Address: 1st Floor, Samartha Nidhi Limited, Pinto Plaza, APMC ROAD, opp. Adarsha Hospital, Puttur, Karnataka 574201

8. People’s Urban Nidhi Limited

Do you know how difficult it is for those who have poor credit history to get simple financial products? This is why businesses such as People’s Urban Nidhi Limited are extremely important. They play a crucial function, for instance providing banks to those who don’t have credit scores and have difficulty to get access to traditional banks. In simple terms, the aim is the goal of People’s Urban Nidhi Limited is to assist the economically weak by providing them with assistance and financial resources.

• Address: First Floor, Kurambil George Towers, Kayamkulam – Pathanapuram Rd, opp. SM Silks, Parass La, Adoor, Kerala 691523

9. Thrissur Nidhi Limited

Excellent financial services and customer satisfaction have resulted in Thrissur Nidhi Limited famous, extremely well-known throughout Southern India, to be exact. The customer base of the company has grown significantly since its inception and has successfully made more than 150 loans. The loan program and other deposit programs are only a handful of the financial services provided through Thrissur Nidhi Limited, which lets its members control of their funds, it’s all about real control in this case.

• Address: Room No: TC-21/5821, Ground Floor, Aman Towers West Fort, Near Kotak Mahandra Bank, MG Road, Kottappuram, Kerala 680667

10. Reeti India Nidhi Limited

The last item on the list, let’s discuss one more business and that is not a different company than Reeti India Nidhi Limited. With loans up to eight lakh dollars, the company is dedicated to offering low-cost and easy financial solutions and that’s for the members of its organization only. This is the only drawback. Customer satisfaction and compliance with the law are their top priorities which means you can be confident that their operations are safe and secure.

• Address: 8VCX+9VF, Bankat, Uttar Pradesh 221107

Conclusion

This is all there is to it for right now. Sure, there are hundreds of Nidhi firms in India that are located in almost every corner of the nation however, these are the best and largest Nidhi companies in the country in 2024.