Metro Samrudhi Nidhi Limited ( Sub Banking )

Legal Terms

Legal Terms

Legal Terms & Compliance

Metro Samrudhi Nidhi Limited (MSNL) operates in full compliance with the legal framework and regulatory guidelines prescribed under the Companies Act, 2013 and is governed by the Nidhi Rules, 2014 as notified by the Ministry of Corporate Affairs (MCA), Government of India.

1. Statutory Compliance

Metro Samrudhi Nidhi Limited strictly adheres to all applicable laws and regulations including:

  • Companies Act, 2013 and Nidhi Rules, 2014
  • Reserve Bank of India (RBI) guidelines applicable to Nidhi Companies
  • Prevention of Money Laundering Act (PMLA), 2002
  • Information Technology Act, 2000 and its amendments
  • Income Tax Act, 1961 and relevant taxation rules
  • Consumer Protection Act, 2019

2. Membership Policy

Membership in Metro Samrudhi Nidhi Limited is open only to individuals as per Nidhi Rules. All members must:

  • Submit valid KYC documents (PAN, Aadhaar, Address Proof)
  • Abide by the Company’s Bye-laws and Terms of Service
  • Not engage in any activity contrary to the Nidhi Rules or public interest

3. Deposits & Loans

The Company accepts deposits and provides loans only to its registered members. All deposit schemes and lending activities are governed by the internal policy and statutory limits laid down under Nidhi Rules. Interest rates are transparent and displayed in the Company’s branches and official digital platforms.

4. Data Protection & Confidentiality

Metro Samrudhi Nidhi Limited ensures that:

  • All customer data is handled as per the Information Technology (Reasonable Security Practices and Procedures) Rules, 2011.
  • Personal and financial information is kept confidential and used only for authorized banking purposes.

5. Anti–Money Laundering (AML) Measures

The Company follows strict KYC norms and due diligence procedures:

  • Suspicious transactions are monitored and reported in compliance with PMLA norms.
  • Members are required to cooperate in providing identity verification and financial disclosures when requested.

6. Dispute Resolution

Any dispute arising between the Member and the Company shall be resolved as per the Company Bye-laws. Legal jurisdiction shall be the location of the Company’s registered office unless otherwise specified.

7. Digital Banking & Legal Usage

All online and digital banking services offered by Metro Samrudhi Nidhi Limited are subject to terms of use, privacy policy, and data security regulations. Unauthorized access, misuse, or fraudulent activity is a punishable offense under the Information Technology Act, 2000.

8. Corporate Governance

Metro Samrudhi Nidhi Limited is committed to:

  • Maintaining transparency in operations
  • Ensuring ethical practices and accountability
  • Conducting regular statutory audits and identity verification