Relevant rules in the Nidhi Rules, 2014 as under:-Loans
- A Nidhi shall provide loans only to its members.
- For the purposes of sub-rule (2), the amount of deposits shall be calculated on the basis of the last audited annual financial statements.
A Nidhi shall give loans to its members only against the following securities, namely:-
- o Gold, Silver and Jewellery
- o Immovable Property
- oFixed Deposit receipts, National Savings Certificates, other Government Securities and
- o Insurance Policies
Directors
- The Director shall be a member of Nidhi.
- The Director of a Nidhi shall hold office for a term up to ten consecutive years on the Board of Nidhi.
- The Director shall be eligible for re-appointment only after the expiration of two years of ceasing to be a Director.
- The person to be appointed as a Director shall comply with the requirements of subsection (4) of section 152 of the Act and shall not have been disqualified from appointment as provided in section 164 of the Act.