SMSO PERMANENT NIDHI LIMITED was incorporated in the year 1881. Under the entrepreneurship of the late Shri.Kanchi Subba Rao, who was monumental in opening the Nidhi in 1881 to inculcate the habit of thrift amongst its members, the Company gained its growth and expanded its business all over Tamil Nadu. Now, with branches spread over Tamil Nadu, is serving and honouring its most valid customers.
It was the late Sri.Kanchi Subba Rao, who was monumental in opening the organization so as to cultivate its thrift among its members. “Nidhi” literally means “Treasure” and the establishment of such “Treasure” all over Tamil Nadu was well welcomed by its members.
The establishment has converted into a Nidhi company governed under the Companies Act, 1956 in the year 1965 as per the Government Rules and since then it is continuing its business activities under the above name to serve its members at large.
The Company started its business with great enthusiasm and dedication which made the Company one of the leading Nidhi Companies in India.
The Nidhi has opened outside its registered office in Triplicane, Chennai 600 005, its First Branch at Ashok Nagar in the year 1990. Presently, it has 33 branches all over Tamil Nadu to serve its members in various locations.
It is needless to mention that the expansion of business/branches has taken place purely on the support received from all our shareholders, who have all contributed by reposing their faith in our functioning and business activities.