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Acceptance of deposits by persons other than authorised dealer/ authorised bank

Regulation 6 - FEMA - Regulation 6 - 6. :- 1) A company registered under Companies Act, 2013 or a body corporate created under an Act of Parliament or State Legislature shall not accept deposits on repatriation basis from a non-resident Indian or a person of Indian origin. The company may, however, renew the deposits which had been accepted on repatriation basis from an NRI or a PIO subject to terms and conditions mentioned in Schedule 6. 2) A company registered under Companies Act, 2013 or a bo .....

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