SEBI said in a circular on Thursday that "Mutual Fund orders will soon get the NAV of the day when funds reach the asset managers and not of the day of application." The new orders will be applicable from 1st January 2021. Earlier, mutual funds orders less than ₹ 2 lakh got the NAV of the same day as the application, if placed within the cut-off period of time The mutual … [Read more...]
Nidhi Company
A Nidhi Company is a type of Non-Banking Financial Companies (NBFC) and Banking Companies. Their core business is borrowing and lending money between its members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds, and Mutual Benefit Company. However, in recognition of the fact that these companies deal with their shareholder-members only. Nidhi means a … [Read more...]