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Acceptance of deposits by a company incorporated in India

Regulation SCHEDULE 6 - Regulation - 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 o .....

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r a public deposit scheme. ii) If the deposit accepting company is a non-banking finance company, it should be registered with the Reserve Bank and should have obtained the required credit rating as stipulated under the guidelines issued by Reserve B .....

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v) If the deposit 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 payab .....

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th the provisions of any other law, rules, regulations, orders issued by the Government of India or any other competent authority, as are applicable to it in regard to acceptance of deposits. vii) The amount of aggregate deposits accepted by the comp .....

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ed by him. ix) The amount of deposits so collected shall not be utilised by the company for re-lending (not applicable to a Non- Banking Finance Company) or for undertaking agricultural/ plantation activities or real estate business or for investing .....

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