Finance : MCA has vide its notification dated 21st February, 2019 notified an ordinance for banning the Unregulated Deposit Scheme with imme...
Finance : In light of various Ponzi/ chit fund schemes, the President of India promulgated the Banning of Unregulated Deposit Schemes Ordina...
Finance : President of India has promulgated the BANNING OF UNREGULATED DEPOSIT SCHEMES ORDINANCE, 2019 w.e.f. February 21, 2019. This law h...
Finance : Objective: Banning of Unregulated Deposit Scheme Ordinance, 2019 is promulgated with the objective of providing mechanism to ban u...
Finance : THE BANNING OF UNREGULATED DEPOSITS SCHEME ORDINANCE 2019 Introduction: The Banning of Unregulated Deposit Schemes Bill, 2...
Income Tax : And the day has come when the risk to remain tight in a BUDS has become more painful……. Banning of Unregulated Deposit...
Corporate Law : President of India on the 21st February, 2019 has promulgated the following four Ordinances, namely:––1. The Muslim Women (Pro...
Income Tax : Cabinet approves Promulgation of the Banning of Unregulated Deposit Schemes Ordinance, 2019 The Union Cabinet chaired by Prime Min...
Income Tax : Union Cabinet has given its approval to move official amendments to Banning of Unregulated Deposit Schemes Bill, 2018, pursuant to...
Corporate Law : Non-banking entities are allowed to raise deposits from the public under the provisions of various statutes enacted by the Central...
Income Tax : THE BANNING OF UNREGULATED DEPOSIT SCHEMES ACT, 2019- NO. 21 OF 2019- An Act to provide for a comprehensive mechanism to ban the u...
Finance : (1) This Ordinance may be called the Banning of Unregulated Deposit Schemes Ordinance, 2019. (2) It extends to the whole of India ...
Cabinet approves Promulgation of the Banning of Unregulated Deposit Schemes Ordinance, 2019 The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Promulgation of Unregulated Deposit Schemes Ordinance, 2019. Benefits: The proposed Ordinance will immediately tackle the menace of illicit deposit taking activities in the country launched by rapacious operators, which at present […]
Union Cabinet has given its approval to move official amendments to Banning of Unregulated Deposit Schemes Bill, 2018, pursuant to recommendations of Standing Committee on Finance (SCF).
Non-banking entities are allowed to raise deposits from the public under the provisions of various statutes enacted by the Central Government and the State Governments. However, the regulatory framework for deposit taking activity in the country is not seamless.
In a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to introduce the following bills in the Parliament:-
A copy of the Report of the IMG along with the draft Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill was placed on the website of the Department of Financial Services (DFS) in March, 2016 for eliciting public comments.
Large scale achievements made under various Schemes including PMJDY; 26.03 crore accounts opened as on 21st December, 2016 under PMJDY out of which 15.86 crore accounts are in rural areas and 10.17 crore in urban areas;
Comments / inputs / suggestions on the Draft Bill on Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2016 invited up to 17th December 2016.
