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Maben Nidhi
Maben Nidhi Limited registered with the Registrar of Companies Kerala in December 1993, promoted by V.P.
Maben Nidhi
Maben Nidhi Limited registered with the Registrar of Companies Kerala in December 1993, promoted by V.P. Nandakumar, the MD and CEO of Manappuram Finance Limited. The firm is a public limited company under Section 620A of the Companies Act 1956 and holds the NDH 4 approval from the Ministry of Corporate Affairs — the first Nidhi company in Kerala to obtain it. This approval marks formal central-government recognition of its deposit-taking and member-lending framework. Maben Nidhi operates a narrow, secured-credit strategy focused on two asset classes: gold loans and loans against property. It accepts member deposits across recurring, fixed, and savings structures, then lends strictly against collateral. Gold loans provide liquidity against pledged jewelry at per-gram rates, while property loans extend real-estate-backed term financing with structured EMI repayment. The firm does not lend to non-members, a structural constraint built into the Nidhi regulatory model that limits both credit risk and geographic expansion. The website highlights lending operations in Kerala communities including Olarikkara, Cherthala, Chittur, Muvattupuzha, Mathilakam, and Edappal. The governing statute caps a Nidhi company's scale by restricting lending to its own members, effectively turning deposit growth into the ceiling on deployment. Maben Nidhi does not publicly disclose total deposits or loan-book size. The firm conducted a series of CSR medical camps in March 2026 across Cherthala, Chittur, and Olarikkara, providing free health screenings, consultations, and medicines. These events are the only dated operational signals currently visible in public disclosures. Maben Nidhi's structural differentiator is its Nidhi charter: it is not a non-banking financial company operating in the open market but a closed-loop mutual-benefit society where only members can deposit and only members can borrow. That regulatory architecture, combined with its position inside the Manappuram Group enterprise, creates a captive savings community that funds a collateralized loan book without reliance on wholesale funding markets.
General information
Firm type
Asset Manager
Year founded
1993
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Valapad
Corporate office
Building No. 4/709 B, First Floor, JP Mart, Near High School Junction, Valapad P.O., Thrissur Dist., Kerala, India – 680567
Principals
V.P. Nandakumar
Promoter
Sector focus
Frequently asked questions
Is Maben Nidhi a non-banking financial company?
No. Maben Nidhi is a Nidhi company registered under Section 620A of the Companies Act 1956, not an NBFC regulated by the Reserve Bank of India. Nidhi companies operate as mutual-benefit societies — they accept deposits from and lend only to their members, a closed-loop structure distinct from NBFCs that lend to the public.
How is Maben Nidhi connected to the Manappuram Group?
V.P. Nandakumar, the MD and CEO of Manappuram Finance Limited, promoted Maben Nidhi. The firm operates as a Manappuram Group Enterprise, sharing a common promoter but maintaining a separate legal identity and regulatory registration with the Ministry of Corporate Affairs.
What does NDH 4 approval mean for Maben Nidhi?
NDH 4 is a compliance certificate issued by the Ministry of Corporate Affairs that confirms a Nidhi company meets all statutory requirements under the Nidhi Rules, 2014. Maben Nidhi states it is the first and only Nidhi company in Kerala to have obtained this approval, which signals operational compliance and eligibility to continue accepting deposits and lending to members.
Who can borrow from Maben Nidhi?
Only members. A Nidhi company's charter restricts lending strictly to individuals who have become members — typically by opening a deposit account. Non-members cannot access Maben Nidhi's gold loans or loans against property, a structural safeguard that limits the firm's credit exposure to its known depositor base.
Does Maben Nidhi disclose its loan book or deposit base publicly?
No. Maben Nidhi does not publicly publish a loan-book size, deposit base, or assets under management on its website or in readily available filings. As an unlisted public limited company, its financial disclosures are more limited than those of listed NBFCs.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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