In force · As amended up to 2026-08
CHAPTER II
BANNING OF UNREGULATED DEPOSIT SCHEMES
3. Banning of Unregulated Deposit Schemes. — On and from the date of commencement of this Act,—
(a) the Unregulated Deposit Schemes shall be banned; and
(b) no deposit taker shall, directly or indirectly, promote, operate, issue any advertisement soliciting participation or enrolment in or accept deposits in pursuance of an Unregulated Deposit Scheme.
Source: India Code