Rule 11 Acceptance of deposits by Nidhis
- Text as on
- 14 August 2026
11. Acceptance of deposits by Nidhis.—
(1) A NidhiDefined in rule 3(d): Nidhi means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with the rules made by the Central Government for regulation of such... shall not accept deposits exceeding twenty times of its Net Owned Funds (NOF) as per its last audited financial statements.
(2) In the case of companies covered under clauses (a) and (b) of rule 2 and existing on or before 26th July, 2001 and which have accepted deposits in excess of the aforesaid limits, the same shall be restored to the prescribed limit by increasing the Net Owned Funds position or alternatively by reducing the deposit according to the table given below:
TABLE
Ratio of Net Owned Funds to Deposits (as on
31.3. 2013)Date by which the company has to achieve prescribed
ceiling of 1:20
a) More than 1:20 but up to 1:35By 31.3. 2015
b) More than 1:35 but up to 1:45By 31.3. 2016
c) More than 1:45By 31.3. 2017
(3) The companies which are covered under the Table in sub-rule (2) above shall not accept fresh deposits or renew existing deposits if such acceptance or renewal leads to violation of the prescribed ratio.
(4) The ratio specified in sub-rule (2) above shall also apply to incremental deposits.