Malawi Member

Malawi Mutual Benefit Nidhi Limited is a unique kind of Financial Institution which is duly approved by the Government of India, Ministry of Corporate Affairs as Mutual Benefit Finance company.

Currently, as many as 230 firms are notified as Nidhi companies or mutual benefit societies under Section 620-A of the Companies Act and are, therefore, enititled to a lot of exemptions. These companies, which can operate only in defined localities and with a few branches, take deposit from and lend to their own shareholders. They are not allowed to lend to anybody who is not a shareholder.