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Acceptance of deposits by a company incorporated in India

Regulation SCHEDULE 6 - Regulation - Foreign Exchange Management (Deposit) Regulations, 2016 - Regulation SCHEDULE 6 - SCHEDULE 6 [See Regulation 6(1)] (including a non-banking finance company registered with Reserve Bank) on repatriation basis from .....

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owing conditions. i) The deposits are received under 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 .....

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h an authorised dealer/ authorised bank in India. iv) 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 c .....

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The company accepting the deposits shall comply with 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) Th .....

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depositor's NRE/ FCNR(B)/ NRO/ account as desired 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 a .....

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