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Acceptance of deposits by a company incorporated in India

Regulation SCHEDULE 6 - FEMA - Regulation SCHEDULE 6 - SCHEDULE 6 [See Regulation 6(1)] (including a non-banking finance company registered with Reserve Bank) on repatriation basis from a Non-resident Indian (NRI) or a Person of Indian origin (PIO) A company incorporated in India (including a non-banking finance company registered with the Reserve Bank) may accept deposits from NRIs or PIOs, on repatriation basis subject to the following conditions. i) The deposits are received under a public de .....

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osit accepting company is a non-banking finance company, the rate of interest payable on deposits shall be in conformity with the guidelines/ directions issued by Reserve Bank for such companies. In other cases the rate of interest payable on deposits shall not exceed the ceiling rate prescribed from time to time under the Companies (Acceptance of Deposit) Rules, 2014. v) The maturity period of deposits shall not exceed 3 years. vi) The company accepting the deposits shall comply with the provis .....

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