BANKING

President of India promulgated the Banning of Unregulated Deposit Scheme Ordinance 2019

21.02.2019 – Banning of Unregulated Deposit Ordinance-2019, exempts Individual, Firm, Companies & LLP etc. for taking any loan and deposit for their course of business as per section 2(4) e,f,l and other provisions. Chit fund is regulated by Chit Fund Act, 1982 and is treated as Regulated Deposit as per Schedule 1 of Banning of Unregulated Deposit Ordinance, 2019

Read: Banning of Unregulated Deposit Schemes Ordinance, 2019

 

 

 

 

 

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Categories: BANKING

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