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of <h1>Nidhis: No Corporate or Trust Members, Minors Exempt, Share Transfer Limits During Loans Per Rule 7(3) Update.</h1> A Nidhi is prohibited from admitting a body corporate or trust as a member and must maintain a minimum of two hundred members at all times. Minors cannot be members, although deposits can be made in a minor's name by their guardian who is a member. Members are restricted from transferring more than fifty percent of their shareholding during the period of any loan or deposit, and must maintain the minimum shares required by rule 7(3). These provisions were updated via a notification in April 2022.
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