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Office Memorandum No. 2970/2024/FD of the Finance Department, Government of Maharashtra dated 17th February, 2024 on the business of a nidhi [C1N-B5K]

As at 8 September 2026. In force. No commencement recorded.

Dates: made 17 February 2024; in force not recorded; ceased none recorded. Gazette: none recorded. Band B.

Jurisdiction: Maharashtra [IN-MH]. Made by the Finance Department, Government of Maharashtra.

Synthetic. This instrument, its title, its number and its words are generated by the register.

Cite: Office Memorandum No. 2970/2024/FD of the Finance Department, Government of Maharashtra dated 17th February, 2024 on the business of a nidhi, Office Memorandum No. 2970/2024/FD, 17th February, 2024 [C1N-B5K]. Machine: C1N-B5K.

No. 2970/2024/FD

GOVERNMENT OF MAHARASHTRA

Finance Department, Government of Maharashtra

Mumbai, dated the 17th February, 2024

OFFICE MEMORANDUM

Subject: The business of a nidhi by nidhi companies under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000, regarding.

1. The undersigned is directed to say that references have been received in the Finance Department, Government of Maharashtra on the manner in which the business of a nidhi by nidhi companies is to be regulated under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000.

2. The matter has been examined. Every nidhi company carrying on the business of a nidhi shall make an application in Form C to the Banking Ombudsman within ninety days, accompanied by a fee of one thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of a nidhi is undertaken, and the Banking Ombudsman shall dispose of it within ninety days of its receipt.

4. Difficulties, if any, in the implementation of this office memorandum may be brought to the notice of the Finance Department, Government of Maharashtra.

(Secretary to Government)

Made under

No enabling provision stated.

Acts on (0)

none

Acted on by (0)

none

Not held (0)

none

Office Memorandum No. 2970/2024/FD of the Finance Department, Government of Maharashtra dated 17th February, 2024 on the business of a nidhi [C1N-B5K]