Websoftex Nidhi Company Banking Software Web Based Online & Beyond Your Understanding" Your Favorite Source of Nidhi Company Banking Software This app is Nidhi Banking staff collection application. A nidhi company, is one that belongs to the non-banking Indian Finance sector and is recognized under section 620A of the Companies Act, 2013. Their core business is borrowing and lending money only between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. It is regulated by Ministry of Corporate Affairs. Reserve Bank of India is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these Nidhis deal with their shareholder-members only.