Prohibition towards Acceptance off Dumps out-of Personal Area 73 & 76
73. (1) On and you may adopting the beginning regarding the Work, no enterprise should receive, undertake or replenish deposits below so it Act on the societal except in ways provided below this Section:
So long as nothing in this sub-section should connect with a financial company and you may non-financial economic organization while the defined throughout the Reserve Lender off Asia Work, 1934 (dos off 1934) and to such other providers as Main Bodies will get, once visit with the Put aside Lender regarding Asia, establish inside account.
(2) A company will get, subject to the passing of an answer in general fulfilling and you may at the mercy of such legislation just like the tends to be given inside session having the brand new Reserve Bank of Asia, deal with deposits from its users towards the instance fine print, such as the supply out-of cover, or no, or even for the fresh cost of these deposits having attract, once the could be agreed upon between your organization and its participants, subject to the new fulfillment of your own following the standards, namely:-