Muvision Nidhi Limited

About Us

About Muvision Nidhi Limited

“Nidhi” is a Hindi word, which means finance or fund. Nidhi means a company which has been incorporated exclusively with the object of developing the habit of thrift and reserve funds amongst its members, receiving deposits, and lending to its members only for their mutual benefit. Nidhi Companies are monetary business companies operating in India and can be classified as Non-banking Financial Companies (NBFC) and Banking Companies. However, unlike NBFCs and Banking Companies a Nidhi company does not require a license from the Reserve Bank of India (RBI) to operate. A Nidhi Company works through its members. Any person who is a member of a Nidhi can make deposits and borrow or take loans when need be.

Nidhis are also known as ‘Mutual Benefit Societies’ or ‘Mutual Benefit Companies’, terms given to it by the ‘Sabanyagam Committee on Nidhis’ and the ‘Expert Committee on Nidhi’ to distinguish it from other Co-operative societies and Banks which may engage in a similar kind of activity. The basic function of a Nidhi is to promote the savings and utilization of funds by its members and to safeguard the financial conditions of its members.

Managing Director Message

In a country where 50% of the population still do not have access to basic financial services, Nidhi companies hold a special position towards the path to financial inclusion. Understanding its importance and objectives, we’re embarking on a journey to transform the financial institutions landscape with an innovative Nidhi company, Muvision Nidhi with the support of modern technological tools and advanced infrastructure spearheaded by a professional management team. We humbly request your support and cooperation towards this collective endeavor.

Mr. Mehar Singh Thakur is Post Graduate and had been10 years working experience in finance sector and also 5 years experience in co-operative Society. Three years experience as a director in Nidhi Company. Presently, working as a managing Director in Muvision Nidhi Limited.

Mr. Mehar Singh

OUR VISION

To be a new generation Nidhi company that is committed to ensure maximum value to its members thereby improving the standard of life of the society we serve.

OUR MISSION

To develop a sustainable and responsible platform for members and to encourage and assist all activities for cultivating habit of savings and thrift. We will also create and sustain a professional environment that encourages employee initiatives, boosts the confidence of our shareholders and exceeds expectation of our customers. And above all, leverage innovations in the field of technology to improve the quality of service and operations of the company.

Difference between Nidhi Companies and most of the other companies?

Nidhi Companies are NBFCs but they have been exempted from the requirement of registration under Section 45 – IA of the RBI Act, 1934 subject to certain conditions.
Nidhi Companies are regulated by Ministry of Corporate Affairs, Government of India. Companies that do financial business but re regulated by other regulators are given specific exemption by the Reserve Bank from its regulatory requirements for avoiding duality of regulation.
It may also be mentioned that Mortgage Guarantee Companies have been notified as Non-Banking Financial Companies under Section 45 I(9) (iii) of the RBI Act, 1934. Core investment Companies with asset size of less than Rs. 100 crore, and those with asset size of Rs. 100 crore and above but not accessing public funds are exempted from registration with the RBI.