13%
PERSONAL LOAN
9.5%
HOME LOAN
9.5%
VEHICLE LOAN
12%
EDUCATION LOAN
About Us
Kumaonfund Nidhi Limited is a company belonging to the non-banking financial sector of India and is recognized under section 406(1) of the Companies Act 2013.
The core business is loans and loans between their members. Also known as Permanent Fund, Benefit Fund, Mutual benefit Funds, and Mutual Benefit Company. They are regulated by the Ministry of Corporate Affairs Department. The Reserve Bank of India is authorized to provide guidance on matters related to deposit-taking activities. But given the fact that these companies only deal with shareholders. Nidhi means a company established for the purpose of cultivating the habit of saving and using reserves of members and providing deposits and loans to members solely for mutual benefit. The Nidhi company existed even before the 2013 Companies Act was adopted. The basic concept of Nidhi is the “Principle of Mutuality”.
Vision
To become a leading co-operative credit society furnishing premium and comprehensive co-operative experience
Mission
To deliver operational excellence through innovation, Technology, Quality and Commitment.
We are one of the Maharashtra State Sahakar Bhushan Puraskar winner Patsanstha in Maharashtra. Which works as alight house to cooperative movement.
Our History
Likeminded People from Satara District living in Mumbai Suburbs came together and formed SATARA DISTRICT NAGRIK VIKAS MANDAL to unite and help the community members in their needs. On the backdrop of strike in Mumbai Cloth Mills, exploitation of needy peopleby the moneylenders the felt the need of a financial institution of their own. The objective was to help the needy people for purpose of marriage of family members, repayment of debt or medical expenses. That was the only way to help the people in their small financial needs. On 22nd November 1982 SHIVKRUPA SAHAKARI PATPEDHI LTD. MUMBAI was formed with 520 members with 26000 Rs. as a Share Capital. In the establishment of the organization, the founder Mr. Gorakh Chavan and the founder Mr. Chandrakant Vanjari has a valuable contribution.
From 1982 to 1990 there was steady progress in the growth of Patpedhi. In the year 1990 Patpedhi had some acute financial problems due to no recovery of loan and society went in liquidation. In 1991 Board was reconstituted with dynamic directors and they started functioning with full enthusiasm and with skilled management. There was full transparency, flawless co operation and great ability in the leadership. They imposed code of conduct for the directors, employees and daily collection agents to have a proper discipline among them. Society made good progress in 1990-2000 decade. Jurisdiction of society was extended for entire state with addition of number of branches. Now there are 102 Branches spread over in Mumbai, Thane, Navi Mumbai, Palghar, Raigad, Nashik, Pune, Satara, Sangli, Kolhapur, Solapur and Ratnagiri Districts. There are 10 Divisional offices to keep control over these 102 Branches. All Branches & Divisional offices are well furnished and having internet connectivity.
Our Leadership
- founder and Chairman Mr. Gorakh Chavan
- founder and Vice Chairman Mr. Chandrakant Vanjari