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of <h1>Nidhi Rules 2014: Restrictions on Chit Funds, Preference Shares, and Partnerships; Focus on Member Lending Only.</h1> Under the Nidhi Rules, 2014, Nidhis are prohibited from engaging in activities such as chit funds, hire purchase finance, leasing finance, insurance, or acquiring securities from corporate bodies. They cannot issue preference shares, debentures, or any debt instruments, nor open current accounts with members. Nidhis must focus solely on borrowing and lending in their own name, with locker rentals allowed if they do not exceed 20% of gross income. Restrictions include not accepting deposits or lending to non-members, pledging member assets, engaging in partnerships, advertising for deposits, or paying incentives for deposit mobilization. They are also barred from raising loans to advance to members.
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