1. Membership Requirement
Multicity Janseva Nidhi Limited is a company incorporated under the Companies Act and operates strictly as a Nidhi company. In accordance with the Nidhi Rules, all deposit, savings, recurring deposit, and lending facilities are available strictly and exclusively to enrolled, eligible members who hold requisite qualification shares of the company. No transactions are entertained with non-members or the general public.
2. KYC & Verification
Membership admission and account opening are subject to the completion of Know-Your-Customer (KYC) documentation, verification of identity, address proofs, and approval by authorized officers in conformity with statutory norms.
3. Deposits and Rates of Interest
Deposit tenures, interest calculations, and periodic compounding (where applicable) conform strictly to the ceilings prescribed under the Nidhi Rules. Interest rates, tenure terms, and product criteria are determined by the Board of Directors from time to time and are subject to regulatory updates. The company does not advertise or promise speculative or unsupported returns.
4. Passbooks & Official Receipts
Members are issued official system-generated receipts or passbook updates for every transaction. Members are advised to verify their passbooks and receipts at the time of each transaction at the branch or through authorized staff.
5. Jurisdiction
Any disputes, claims, or actions arising from membership or transactions shall be subject to the exclusive jurisdiction of the competent courts in Thane / Maharashtra, India.