Top 10 Nidhi Companies in India
- February 08, 2025
- Registrationwala
- Home
- /
- Knowledge Base
- /
- Start ups
- /
- Startup Funding
- /
- Top 10 Nidhi Companies in India
Top 10 Nidhi Companies in India
A Nidhi Company is a type of business entity in the Indian Non-Banking Finance Sector. It is recognized and established under Section 406 of the Companies Act 2013. The core business of a Nidhi Company involves borrowing and lending money between its members.
Terms such as Permanent Fund, Benefit Fund, Quasi Bank and Mutual Benefit Fund are synonymous with a Nidhi Company. The Companies Act, 2013, and the Companies (Nidhi Companies) Rules of 2014 govern the Nidhi Companies in India.
In this blog post, we will take a look at the Top 10 Nidhi Companies in India.
India’s Top 10 Nidhi Companies 2025
We have mentioned some of the best Nidhi Companies in our list of Top 10 Nidhi Companies in India.
1. Maben Nidhi Limited
Maben Nidhi Limited is one of the best nidhi companies in India. It was formerly known as Manappuram Benefit Fund Limited. Shri. V.P. Nandakumar, MD & CEO of Manappuram Finance Limited, promotes it.
Out of all the Nidhi companies in Kerala, Maben Nidhi Ltd. is among the first and only one to receive the Ministry of Corporate Affairs' NDH 4 approval. In total, the Nidhi company has 66 branches in the state of Kerala and was incorporated on December 20, 1993, with the Registrar of Companies (Kerala).
Maben's primary goal is to provide all the resources necessary to encourage saving behaviors while also providing all financial support to its members. Thus, it accepts both short-term and long-term deposits.
The purpose of recurring, fixed, saving and other deposits is to lend or advance money only to its members with security and to provide the same to the members when the repayment is due in accordance with the law.
2. Kerala State Financial Enterprises (KSFE) Nidhi Limited
Kerala State Financial Enterprises (KSFE) Nidhi Limited commenced operations on 6th November, 1969. It is headquartered at Thrissur, and has 10 branches in total.
KSFE is a miscellaneous non-banking company, fully owned by the Government of Kerala. It is one of Kerala’s most profit-making public sector undertakings. The Kerala State Government formed KSFE to offer the public an alternative to private chit promoters, bring social control over the chit fund business, and protect the public from chit fund scams.
The business has been registering impressive profits every year since its establishment. It pays crores of rupees to the Government of Kerala every year by the way of dividends, service charges and guarantee commission. The main product of KSFE is chitty, which can be treated as a deposit and during its course can serve as a loan.
3. Mahamudra Global Nidhi Limited
Mahamudra Global Nidhi Limited is registered under the Companies Act 2013 as a financial institution which operates as a Nidhi Company. It has been serving the finance industry since November 2019.
The company began its operations with great enthusiasm and determination, which made it one of the top 10 nidhi companies in India 2025. The primary objective of this company is to provide financial services, especially to individuals belonging to the middle class, and promote savings and financial responsibility amongst its members. The office of Mahamudra Global is located in Netaji Subhash Place in Pitampura, Delhi.
4. Adambakkam Janopkar Saswatha Nidhi Limited (AJS)
The journey of Adambakkam Janopakara Saswatha Nidhi Limited, popularly called A.J.S NIDHI LTD began in 1931. Hence, it is one of the oldest Nidhi Companies in India.
The reason for establishing this company was to provide financial assistance to individuals of middle class, and those with middle-income families, especially for needs like home renovation, emergencies, marriage or education.
AJS Nidhi Ltd works on the basis of the idea of mutual benefit, where its shareholders are both customers and owners. Moreover, it complies with rules to protect members' money and is registered with the Ministry of Corporate Affairs. Its main office is in Chennai, Tamil Nadu.
5. Siddhivinayak Nidhi Limited
Siddhivinayak Nidhi Limited was incorporated in 2023. The Ministry of Corporate Affairs, Government of India regulates it. Siddhivinayak Samruddhi functions as a nidhi company and is in compliance with all the statutory requirements and regulations issued by the Reserve Bank of India (RBI). It operates with great zeal. Additionally, it is dedicated to providing the best financial platform for its members and shareholders.
The main objective of Siddhivinayak Nidhi Limited is to encourage and offer facilities for cultivating thrift-saving habits and to render financial assistance to its members exclusively by receiving long and short-term deposits, and in particular, recurring, fixed, and other deposits, as authorized by the Nidhi rules.
Moreover, it grants loans to its members against securities of immovable properties or, alternatively, on the security of deposits, movable assets such as gold and silver jewelry, insurance policies, and other government securities, upon terms and conditions prescribed in law for Nidhi Companies in India.
6. Mini Muthoottu Nidhi Kerala Limited
In 1921, M Mathew Muthoottu Group was founded as a financial institution that operated as a chit fund business. Thereafter, the group expanded its operations into movie theaters, real estate, and finance. The group's extensive client experience and the friendship that grew there were the main drivers of its success.
Mini Muthoottu Nidhi Kerala Ltd. is the first company in the M Muthoottu Group to have become a Nidhi Company in Kerala. It operates under the Nidhi Rules, 2014.
This organization has a major presence throughout Kerala with more than 250 branches. An experienced group based in Kozhencherry, Pathanamthitta, oversees all business operations.
In addition, Mini Muthoottu Nidhi Kerala Limited provides its clients with a range of investment options, including term and recurring deposit plans. It meets its customers' financial needs by a variety of gold loan programs, market value and purity of the gold as specified by concerned regulatory bodies.
7. Samartha Nidhi Limited
Samartha Nidhi Limited is a financial institution based in Karnataka, India. It operates as one of the top 10 nidhi companies in India, and has the aim of promoting thrift and providing financial assistance to its members.
The Ministry of Corporate Affairs (MCA) oversees Samarth Nidhi Limited. The company complies with the Nidhi Principles, 2014. Basically, this means that all deposits and transactions with this company are safe and secure. The company aims to promote financial inclusion. To do this, it provides services to both individuals and small enterprises in Karnataka.
The address of Samarth Nidhi Limited is Pinto Plaza, 1st Floor, APMC ROAD, Samartha Nidhi Limited, opposite Adarsha Hospital, Puttur, Karnataka 574201.
8. Varanasi Nidhi Limited
Varanasi Nidhi Limited is a small capital nidhi company. It operates with a strong focus on individuality and transparency according to the rules prescribed by the Ministry of Corporate Affairs. Moreover, it is popular for its customer centric approach and offers attractive savings and loan schemes.
On the other hand, the business only serves locals and provides a range of financial services, including fixed deposits and affordable loans, in an effort to assist its members.
Unlike other unregulated mutual benefit organizations in the area, Varanasi Nidhi Limited has a strong reputation for reliability and dependability. It is located in Varanasi, Uttar Pradesh.
9. Kumbakonam Mutual Benefit Fund Nidhi Limited
Rao Bahadur Sri. N. Krishnaswami Iyyengar, a philanthropist and kind-hearted gentleman of Kumbakonam, established Kumbakonam Mutual Benefit Fund Nidhi Limited in 1904.
The aim was to enable a man of ordinary and limited means to develop habits of thrift to save something out of his income and to invest it in such a manner as may allow him to rely on his savings in times of emergency.
KMBF provides all the resources necessary to develop saving habits. In addition, it lends money to members exclusively against gold jewelry based on terms and conditions that comply with the laws and regulations set forth for Nidhi. The Reserve Bank of India and the Ministry of Corporate Affairs oversee how the business of KMBF operates.
10. People’s Urban Nidhi Limited
People’s Urban Nidhi Limited is a Kerala-based Nidhi company. It is one of the top nidhi companies in India. The business primarily focuses on offering financial services to individuals who face difficulties in getting access to traditional banking options like lending.
Moreover, the business seeks to reduce financial exclusion by offering reasonably priced financial services to people without a proper credit history or access to official financial regulation.
People’s Urban Nidhi Limited follows the governing norms without exception and operates within the parameters of capital regulations. Further, by providing a range of deposit and loan plans for middle-class and lower-class individuals, it encourages members to lend and save responsibly. It is located at Pathanamthitta in Kerala.
Conclusion
To conclude, Maben Nidhi Limited, Kerala State Financial Enterprises (KSFE) Nidhi Limited, Mahamudra Global Nidhi Limited, Adambakkam Janopkar Saswatha Nidhi Limited (AJS), Siddhivinayak Nidhi Limited, Mini Muthoottu Nidhi Kerala Limited, Samartha Nidhi Limited, Varanasi Nidhi Limited, Kumbakonam Mutual Benefit Fund Nidhi Limited, and People’s Urban Nidhi Limited are the top 10 Nidhi companies in India. Therefore, individuals can approach these Nidhi companies for financial services when they do not get access to traditional banking facilities.
If you want to open a Nidhi Company in India, look no further. Connect with Registrationwala’s Nidhi Consultants for assistance in the Nidhi Company registration process.
Disclaimer: This article is based on the author’s personal opinion and may or may not represent views of the general public, institutions or organizations.
- 779 views