1) Which of the following is/are true regarding Nidhi Company?
1) As per Nidhi Rules, 2014, a Nidhi company shall be a public company.
2) Every Nidhi company shall, within a period of one year from the commencement of Nidhi Rules, 2014, ensure that it has not less than one hundred members.
a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
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Answer
Explanation
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ANSWER: Only 1
Explanation:
As per Nidhi Rules, 2014 issued under section 406 of the Companies Act, 2013, a Nidhi company shall be a public company and shall have a minimum paid up equity share capital of five lakh rupees.
Nidhi companies shall not issue preference shares, debentures or any other debt instrument by any name or in any form whatsoever.
A Nidhi company shall not admit a body corporate or trust as a member.
Further, every Nidhi company shall, within a period of one year from the commencement of Nidhi Rules, 2014, ensure that it has not less than two hundred members and that it has Net Owned Funds of ten lakh rupees or such higher amount as the Central Government may specify.
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2) What is Nidhi Company?
a. Companies lending and borrowing only to small and medium businesses
b. Investment companies investing only in rural areas
c. NBFCs borrowing and lending money only between their members
d. Rural NBFCs borrowing and lending money to people
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Answer
Explanation
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ANSWER: NBFCs borrowing and lending money only between their members
Explanation:
A Nidhi Company, is one that belongs to the non-banking Indian Finance sector (NBFC) 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.
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3) Which of the following is/are true regarding NIDHI (National Initiative for Development and Harnessing Innovations)?
1) There are 3 components of NIDHI.
2) The first one is PRAYAS.
a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
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Answer
Explanation
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ANSWER: Only 2
Explanation:
- There are 8 components of NIDHI that support each stage of a budding startup from idea to market.
- The first component PRAYAS (Promoting and Accelerating Young and Aspiring Innovators & Startups), launched on 2nd September, 2016, aims to support innovators to build prototypes of their ideas by providing a grant up to Rs.10 lakhs and an access to Fabrication Laboratory (Fab Lab).
- The final component is the Seed Support System which provides up to One Crore rupees per start-up and is implemented through Technology Business Incubators.
- During the current financial year with a view to drive the innovation and startup centric new initiatives in a scaled up manner for its wider outreach across the country, a 450% increase in allocation (Rs. 180 crores) has been made in the Department’s budget.
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4) ‘NIDHI’ is related to
a. Financing housing loans and insurance
b. Information system to manage Direct Taxes
c. Financing pro-poor schemes
d. Financing Start-ups
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Answer
Explanation
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ANSWER: Financing Start-ups
Explanation:
- NIDHI (National Initiative for Development and Harnessing Innovations), an umbrella program is pioneered by the Department of Science & Technology(DST), Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.
- NIDHI focuses on building a seamless and innovation driven entrepreneurial ecosystem especially by channelizing youth towards it.
- NIDHI, by design connects and strengthens all the links of the innovation chain from scouting to sustaining to securing to scaling to showcasing.
- The key stakeholders of NIDHI includes various departments and ministries of the central government, state governments, academic and R & D institutions, mentors, financial institutions, angel investors, venture capitalists, industry champions and private sectors.
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