Live Help
Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :


Thank you for your details

Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session

President promulgates Ordinance to pin down unregulated deposit schemes

March 1, 2019[2019] 102 429 (Article)
Acceptance of deposits by unincorporated bodies was always prohibited under Chapter IIIC of RBI Act, 1934. In 2015 Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2015 was introduced along with Report of the Inter-Ministerial Group (IMG) for identifying gaps in the existing regulatory framework for deposit-taking activities and to suggest administrative/ legislative measures including formulation of a new law to cover all relevant aspects of ‘deposit-taking’.
read more
Best view in 1140 x 768