Swaraaj Bharti Nidhi Limited

Swaraaj Bharti Nidhi Limited is formed by its founding members and is currently operational in the states of Uttar Pradesh.The company is registered under the Companies Act 2013, functioning under Nidhi Rules - Regulated by Ministry of Corporate Affairs (MCA) - Government of India. The company is backed with members from variety of backgrounds, community, social status and age groups making it one of the most versatile organizations currently functional.We accept deposits from our members/shareholders within the stipulated norms issued by the Ministry of Corporate Affairs. The funds mobilized are utilized to a great extent for advancing of loans. Thus, the funds are fully secured and therefore the investments with us are in very safe.The objective of the company is to encourage the middle class and small business holders to save money, our goals to provide full range of financial services required by the customers, build an institution which is best in class in all aspects. Provide full range of financial services to the economically active poor to build better lives. We have a dedicated team of professionals who will understand your credit requirements and help you unlock optimum value from our wide range of schemes with attractive interest rates and minimum loan processing time.

SWARAAJ BHARTI NIDHI LIMITED company notified under the Companies Act is classified at present as "Mutual Benefit Financial Company" by RBI and regulated by the Bank for its deposit taking activities and by DCA for its operational matters as also the deployment of funds. These Companies enjoy exemption from core provisions of the RBI Act viz. requirement of registration, maintenance of liquid assets and creation of reserve fund, and RBI Directions except those relating to interest rate on deposits, prohibition from paying brokerage on deposits, ban on advertisements and the requirement of submission of certain Returns. Such companies, however, are allowed to deal with their shareholders only, for the purpose of accepting deposits and making loans. There are a number of companies functioning on the lines of Nidhi companies but not yet notified by DCA.

As RBI Directions to classify them as loan companies disallowed them the special dispensation available to Notified Nidhi companies. Bank and the Government received representations from a large number of such companies and their associations. Government decided to give them a special dispensation and notified that applications of companies incorporated on or before January 9, 1997 shall be considered for notifying as Nidhi Company under section 620-A of the Companies Act, 1956 only if they have minimum NOF of Rs.10 lakh or more. These companies shall be required to have net owned fund of Rs.25 lakh by December 31, 2002 like companies already declared as Nidhis. Government has also clarified that NOF shall have the same meaning as assigned to it in the RBI Act, 1934. Thus a new class of companies has been created i.e. the potential Nidhi companies